A chip-enabled card has a small microchip built into the card that stores the information that’s generally stored in a magnetic stripe. A chip transaction adds another layer of security to cards by requiring the chip to produce a single-use code to validate the transaction — further protecting your card from unauthorized use. Chip-enabled cards are also sometimes referred to as EMV cards or smart chip cards.
Chip Card Reader
A chip card reader is a payment system that merchants use where you insert your chip-enabled card rather than swipe it.
A chip transaction is any purchase using your chip-enabled card at a chip card reader. Transactions are made by inserting the card rather than swiping it.
A microchip is a tiny group of integrated circuits (a tiny computer) embedded into your credit card. It’s used to store information and produce unique codes with each transaction at a chip card reader.
Traditional readers are the current payment systems where you swipe your card to complete a transaction. A growing number of merchants will be replacing traditional readers with chip card readers in the U.S.
A magnetic stripe is the stripe across the back of your card that’s used to store details such as your name and account number. This information gets read by the card reader when swiped for a transaction.
A payment machine used to make a purchase without the assistance of a clerk. These are generally used in train stations, bus stations, airline terminals and more.
Fraud — as it relates to credit, debit, prepaid and ATM cards — is the unauthorized use of someone’s card information for removal of funds.
Chase Fraud Alerts
Chase will notify you via phone call, text or email in the event of suspicious activity with your account.
24/7 Fraud Monitoring
We help safeguard your new account using sophisticated Real-Time Fraud Monitoring. You can rest easier knowing that your card transactions will be monitored for possible signs of fraudulent activity.
You won't be held responsible for fraudulent charges made with your card or account information .