Chip cards, credit cards with a tiny microprocessing chip in the card, are the industry standard in Europe, Asia and other parts of the world.
The chip adds an additional layer of security over the magnetic strip on the back of credit cards, creating a unique code for each transaction.
The unique code means any chip card numbers stolen by a breach or a skimmer would not be able to be used fraudulently. Traditionally, the chips can be seen in the upper left of your credit card.
Educators Visa® credit cards are moving to chip cards at card renewal beginning in January or when requested by mail.
When using your chip card at a retailer with enabled technology, you will have to insert your card into the reader until the transaction is completed, rather than swiping the magnetic strip. The cards will also have magnetic strips, so if a retailer does not have the technology, the card can still be used in the traditional way. Online transactions are conducted the same way with a non-chip card.