This fall, Heartland Bank will be issuing debit cards that contain an EMV (Europay, MasterCard, and Visa) chip. These cards utilize tokenization technology, which will help reduce the possibility of debit card fraud. This additional layer of protection increases the safety of your card data.

“It is important for us to invest in technology that helps make our customers’ data safe from
criminal hacking and data theft. Protecting our customers’ information is a top priority. Payment fraud is an evolving challenge, with criminals constantly seeking new ways to exploit perceived weak links in the system. The transition to chip cards is one step in the fight against payment fraud,” said Cindy Moyle, SVP & IT/Operations Director.

So what makes a card with an EMV chip unique in comparison to a regular debit card? When using a current magnetic stripe debit card to make an in-person transaction, whether it is
paying for groceries or dinner at a restaurant, the card number is sent through the payment network. The number is then verified and funds are returned back, leaving your account information vulnerable to cyber thieves when it is passed through the network.

With EMV chip cards, the sensitive data on your card is replaced with a token, which is a unique one-time number. This token is useless until it is matched with your account information within the bank network. Once the bank approves the transaction, the token is sent back and authorized by the merchant.

If a cyber thief were to hack the merchant network and obtain one of these tokens, it would be useless to them because, rather than your full card or account number, it is a one-time-use token. If a retailer’s system has been compromised and the tokens that were stolen are being used elsewhere, the network will detect the token as stolen and reject the transaction.

When you receive your new EMV chip card, you will not have to make any changes to your account. The EMV chip is embedded into the card. As a result, the only thing you will have to do differently is insert your card into the terminal instead of swiping it. If a retailer has yet to switch to an EMV chip enabled terminal, all of the new cards will include a magnetic stripe to use just like your current card.

“When your card arrives you will need to call the number listed on the sticker on the card to activate it. When making a purchase, insert the chip end of the card into the terminal. Keep the card in the terminal and follow the prompts on the screen. You may need to enter a PIN or sign for your purchase,” said Cindy Moyle.

Although the magnetic stripe on your current card is secure and offers protection against debit card fraud, the EMV chip enabled cards offer another layer of security to further help in the fight against card fraud.

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