How the Checkout Line Will Be Different This Holiday Season

posted in: Uncategorized | 11

checkout line

It feels like just last week I was up in the Catskills enjoying a summer getaway with friends and family, but believe it or not, the holiday shopping season is here. You’ve probably been thinking about what gifts to give everyone on your list, but now it’s time to start shopping in earnest. And when you do, you’ll notice that things are a little different in the checkout line. For the first time ever, many people will be “dipping” instead of swiping their credit cards at the checkout line.

Maybe you’ve already received your chip, or EMV (Europay, Mastercard Visa)-enabled, card from your bank or have already ‘dipped’ your card to make a purchase. But whether you’re new to this or already a seasoned pro, here are some tips I put together with my friends at the American Bankers Association to prepare you to be a star shopper this holiday season.

 

Tip 1: Why you’re getting a chip now. Banks are continuing to improve credit card security to help protect customers against risks including retailer data breaches. Chip cards do just that by creating a one-time transaction code that can’t be guessed or re-used. If you haven’t received a chip-enabled debit or credit card yet, it’s coming soon. And if you notice a retailer isn’t using chip terminals yet, they might be by your next visit.

Tip 2: You have to dip in order to be protected. If you have a chip-enabled card, the only way to benefit from its security is by dipping – not swiping. Chip cards still have the magnetic stripe for use at businesses that don’t have chip terminals, but they won’t protect against counterfeit fraud if a retailer is breached. How to dip? Just insert your card into the slot and remove it only when the message on the screen indicates to do so. And don’t worry, you won’t forget your card. The machine will beep if the card stays in too long.

 

Tip 3: Stay calm, you’re not liable. Remember – whether you dip or swipe, you still are not held liable for fraudulent purchases. Until October 1, 2015 banks had been required to pay for credit and debit card fraud. Now, whoever has the oldest technology when counterfeit fraud occurs – bank or merchant – determines who covers the fraud costs. Banks monitor accounts for fraudulent activity, but you should too. If I ever suspect fraudulent purchases on my card, I always reach out to my bank! It’s particularly important to be vigilant during the holidays and monitor your statements closely.

 

Tip 4: Chips are just one of the ways you’re being protected. Banks are focused on rolling out new and innovative security features, like tokenization, encryption and biometrics to help protect against hackers. If you’re not sure what that means here are some examples of how these work. Tokenization and encryption are particularly helpful when you’re shopping online:

  • Tokenization – new technologies available on some smart phones and apps rely on replacing account numbers with a random number at the point of purchase, rendering them useless to thieves.
  • Encryption – makes your payment information unreadable as it makes its way from a merchant’s checkout stand to a card network to your local bank, and back.
  • Biometrics – facial / voice recognition and fingerprint matching enable consumers to verify transactions.

Happy shopping!

11 Responses

  1. V. Nicole Thomas
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    I would like open an account please and thank you

    • Trae
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      Hi there, Thanks for your message. I actually don’t offer credit cards, but you can visit safechipcard.com for more info. If you have not received your credit/debit cards from your existing accounts, you will soon!

  2. Richard maddox
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    I have gone to several retailers that have the chip reader machines and the person at the checkout says it doesn’t work and that I should swipe my card instead .is there a way for them to bypass the chip reader so that they can steal your info.just wondering why it happens often and they have the new machines! Thank you

    • Trae
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      Thanks for your message! Using the chip readers is the most secure way to shop in-store and eventually, all retailers will be using the chip readers. Thankfully, in the event of a retailer breach, consumers face zero liability so you don’t have to worry.

    • Katie
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      Richard, this is likely do to the process of installing the chip readers. Not only does the device need to be installed, the software also. Where I work, this was the case for quit some time. The machines were installed, but the software was not. Even if the customer were to try the chip it would not do anything and they were required to swipe. This was not to steal their information… Actually at the time it was the only way to complete a transaction.

  3. Lizbeth r haro
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    Hola.. Keria aser cuenta con ustedes por que estoy cansada de las tarjetas prepagadas grasias

    • Trae
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      Hi there, I am actually not a credit card provider. Sorry about that! You can contact your bank for credit/debit card options.

  4. Cecilia
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    My husband has the new card, with the chip that’s because he went to a local branch and requested one,I haven’t received mine as of 1/9/16 r we supposed to go and request it?some people I know didn have to and they already got it what should I do?

    • Trae
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      Thanks for writing. Call your bank or credit card provider if you haven’t received your card yet. It might already be en route to you, but if not they should be happy to issue your new card for you. I hope this helps!

  5. Browning Verlon D
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    Please send me a credit card with a new safer chip on the face of the card. Thank You. Browning

    • Trae
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      Thanks for writing. If you haven’t received your chip card yet, call your bank or credit card provider. They should be happy to issue your new card. I hope this helps!