Protect Consumers And Business Owners @ (NAPSA)—Electronic pay- ments in the United States have become even safer and more secure with the recent adoption of EMV chip-enabled technology. This is a significant advancement in the fight against counterfeit ecard fraud. In recent months, a growing number of consumers have received new chip-enabled cards in the mail, and it’s important to understand the benefits of this technology and how touseit. EMVtechnology authenticates in-person card transactions, helping to mitigate fraud. These cards use computer chips to store card information and work with payment terminals to generate a onetime-use encrypted code every time a consumer makes a pur- chase. As a result, counterfeiters can’t get the necessary informa- tion to create a duplicate card. In order to use a chip-enabled card, consumers have to insert— or “dip’—their card into a slot at the bottom of the payment termi- nal. After the card is inserted, instructions will appear on the screen informing the consumer how to complete the transaction. Once it’s complete, the terminal will direct the customer when to remove the card. Upgraded pay- ment terminals will continue to accept magnetic stripe cards for consumers who have not yet received new cards. According to the Aite Group, by the end of the year, 1.1 billion chip-enabled cards will find their way into consumers’ wallets, help- ing business owners and consumers better protect themselves from individual counterfeit card fraud, as well as large-scale pay- ment data breaches like those at Target and Michaels. As the United States continues to develop innovative solutions, consumers and business owners can educate themselves about EMV and electronic payment technologies. Master Your Card, a community empowerment program by MasterCard, has a num- ber of resources available that explain the benefits of the latest technologies, such as EMV, and how to use them. Visit www.masteryourcard usa.org to learn more.
