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EMV Chip Card FAQs

We have collected answers to the most frequently asked questions for you to refer to. If you do not find what you are looking for here or need additional information, do not hesitate to contact us or give us a call at 630-773-0350 and speak to a Relationship Banker.

What is EMV and What Does it Mean to You

When it comes to debit card protection, you can never be too safe. With new chip-enabled technology, your debit card information will be more secure from fraudulent activity than ever before, and it will be accepted in more locations worldwide. Chip cards provide added security against counterfeit fraud when used at chip-enabled terminals. The chip also helps you use your card internationally, where chip technology is already in place.

EMV (also referred to as chip cards) is an acronym that stands for Europay, MasterCard®, and Visa®. EMV is a payment application that resides in a computer chip embedded in a credit or debit card. The application specifications define a set of requirements that ensure compatibility between chip cards and card terminals. The founding companies, Europay, MasterCard®, and Visa®, developed chip technology to help improve security and fight fraud.

EMV has been widely used in Europe for many years and U.S. card issuers are now taking steps to make EMV the standard payment application for enhanced card security. The adoption of EMV will require financial institutions, payment networks, card issuers, payment processors, and businesses to make substantial changes to card issuing, transaction authorization, and related processes as well as point-of-sale and/or ATM equipment.

EMV Chip Card FAQs

Why does my Itasca Bank & Trust Co. debit card now include a chip?
What is a chip card?
When will I receive a new Itasca Bank & Trust Co. debit card with chip technology?
What is a smart card or an EMV card?
Where can I use my chip card?
Are chip cards secure?
Will chip cards prevent third-party data breaches?
Will chip cards prevent all fraud from happening?
Will chip cards allow others to track my location?
Is a chip card the same as contactless payment (for example, PayPass, PayWave)?
Is my card considered "chip and signature" or "chip and PIN"?

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