We are committed to providing you with the highest level of security for your credit and debit card transactions. We are in the process of adding the protection of chip technology to our Mastercard® credit cards, Member Card® debit cards, Chequewise® Mastercard cards and automated teller machines (ATMs).
A chip card has a microchip embedded in the card. It's like having a personal computer right on your card. It:
- Authenticates your card
- Verifies your personal identification number (PIN)
- Stores information needed to complete transactions
The encrypted microchip is very difficult for unauthorized users to counterfeit, which makes the already safe payment system even safer and more secure.
Chip technology is already widely used throughout the world, but not everywhere. All of our credit and debit cards will still have a magnetic stripe on them to ensure that cards are accepted worldwide. The magnetic stripe remains a secure method of payment for use at terminals that are not chip-enabled.