What you need to know about the EMV credit card that will soon be in your wallet.

EMV stands for Europay, Mastercard, or Visa and is the global standard for cards with chips and technology used to authenticate chip transactions. These cards have been developed for even more added security, protecting your personal information and credit when you use them. How is it safer? The traditional mag strips on the back of credit cards can be fairly easily copied, while a computer chip is more secure. The chip contains information that can be changed and it creates a unique transaction code that changes every time the card is used. Once you use your card at a location, the same information can not be used for another transaction. Mag strip cards have unchanging data and once you use the card, that info can be taken to create a fraudulent mag strip. How do I use it? EMV cards do take a little bit longer to use. You insert the side of the card into the machine and the machine reads the chip. It must stay there for a duration of time. It is a process of €œdipping€ the card as opposed to €œswiping€ because the chip code must be changed while it's in the machine. Do I still need a pin? Yes and no. You will still be required to verify the card in some way. Many vendors will continue to use the pin method. If fraud occurs, who will be liable for the costs? In 2015, the responsibility for liability for card-present fraud shifted over to whichever was the last party that used the card. The cost of fraud will fall back on the merchant. Will I be able to use the card outside of the country? Europe actually switched to the EMV system years ago. The U.S. is the last major market still holding onto the magnetic strip system.  Chances are, you will be able to use your EMV cards in just as many places, if not more, when you are abroad. Your EMV credit card will help protect your finances. We can help, too. For all of your insurance needs in Rexburg and throughout Idaho, contact Bell Black Insurance.