In the Summer of 2016, Rivermark will start sending members new EMV chip and PIN enabled credit and debit cards. While nothing is foolproof, these new cards contain sophisticated chips that help prevent fraud and offer members an added layer of security.
We will be releasing more information on the new cards in coming months, but here are some answers to questions you may have:
What is EMV and what does it mean for me?
EMV (Europay, Mastercard, Visa) technology uses chip-based payment cards instead of cards with magnetic strips. Unlike our current payment system, the card is inserted into a payment terminal instead of swiped. This new technology adds an additional layer of authentication, making the payment more secure and reducing the likelihood of fraud.
How is EMV more secure?
The EMV chip issues a single-use code for each transaction. That data is specific to the chip, making hacking the information more difficult. This adds an additional layer of authentication to each transaction, helping to validate the legitimacy of the payment.
When will I get my new card?
Rivermark will be issuing EMV cards beginning in August 2016. All Rivermark debit and credit cards will be reissued.
Will my card number change?
Yes. You will need to update your card number with Apple Pay or any recurring payments you have set up with your current card information.
What is different about the new EMV chip card design?
The microchip is visible on the card under the Rivermark logo. You will also notice that the numbers and name on the card are flat printed instead of raised. Visa Platinum, Business Debit and Business Credit cards will feature all new designs.
We’re thrilled to be offering this new, more secure technology to our members in the coming months. If you have additional questions, please contact us.