New EMV-technology, Highly Secure MasterCard® Debit Cards

Please see our convenient video below that demonstrates how to use your new EMV card.

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Big Protection in a Tiny Chip. 

Your new MasterCard® debit card from Washington Savings Bank features new EMV chip technology. This has become the global standard for card-based payments because of its enhanced security. Chip-based cards are already the standard in Europe and now this technology is being rolled out in the U.S.

In addition to having a magnetic strip, a microchip is integrated right into the card that stores and protects your data.

Benefits of new, EMV-compliant cards

EMV-enabled cards help prevent fraud from counterfeit cards. Without getting too technical, chip cards support dynamic authentication, so data cannot be copied from those card skimming devices fraudsters place on ATMs and Gas station pumps.

More about security and protection

To dig deeper and explain further, EMV technology adds security in three critical areas:

1. Authentication of your card – guards against use of counterfeit cards

  • Your card is authenticated during the transaction
  • Card is validated online by the issuer (VISA®, MasterCard®, etc.) or offline within the terminal using a dynamic cryptogram
  • Every transaction creates unique transaction data, so all captured data cannot be used again for another transaction – one more layer of protection

2. Verification of your card – protects against stolen and lost cards

  • Verification assures that the person making the transaction is the true holder of the card
  • EMV uses one of four types of verification to assure your identity, primarily based on the amount of the transaction

3. Authorization of each transaction – using issuer-defined rules

  • Transactions are authorized offline or online
  • In offline mode, the card and terminal communicate to determine is the transaction is valid
  • Offline mode is used when there is no Internet connectivity available at the terminal – for example at an outdoor market
  • Online mode sends the transaction information to the card issuer, where the transaction is either approved or declined

How to use your new card(s)

The payment process at a store will be slightly different with your new card(s). Not every new reader will look the same, but they will be similar. Instead of swiping your card, you'll put it into the front of the card reader with the chip facing up. You'll leave it in the reader and follow the on-screen instructions until your transaction is completed. Then you can remove the card. You may have to sign a receipt or sign on the terminal. Your new card will also have a magnetic stripe on it for use on older terminals in the interim.

Merchants have already started using these terminals, and they will also be adopting them in more frequently in the coming months. The combination of EMV-enabled cards and new EMV-type terminals will combine to create the best security for you and retailers. Please see our convenient video that demonstrates how to use your new EMV card.