What is a Chip Card? | Elements Financial

What is a Chip Card?

Get big protection in a tiny chip.

Elements has begun issuing credit and debit cards with chip technology built right in. This tiny chip will protect your card's information in a big way.

Count on enhanced fraud protection. When you use your chip card at a chip-enabled terminal, the embedded chip generates a unique transaction code. This helps prevent stolen data from being fraudulently used.

Enjoy global acceptance. More places than ever accept Visa® credit and debit cards. Whether you check out using chip technology, Visa payWave to tap and go, or swipe your card, you can pay with confidence worldwide.

Plus, you're protected against unauthorized use with Visa's Zero Liability Fraud Protection.

With your new chip-enabled card, it's as easy as ever to pay:

  1. Insert the chip end of your card into the terminal with the chip facing up.
  2. Keep your card in the terminal and follow the prompts on the screen.
  3. Remove your card when prompted and take your receipt.

Keep in mind, you may need to sign for your purchase.

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What is a chip card?

Picture of couple shopping with a chip card.Chip cards, also known as smart cards or EMV cards, contain embedded microprocessors that provide strong transaction security protection and other features not possible with traditional magnetic stripe cards.

Chip card technology provides an added layer of security to help minimize cardholder impact when a data breach occurs. While this technology can't prevent all security breaches, a chip card is an important first line of defense.

When a retailer uses a chip-enabled payment terminal, the security features in the chip card help prevent thieves from stealing account information.