Chip Technology

City National's Visa® cards come with chip technology. Chip technology, sometimes called EMV technology, refers to the microprocessor chip imbedded on the front of the credit card which stores the same information as contained on the magnetic stripe common to many credit cards. The difference is that the chip adds an extra level of security to your in-person transactions made at chip-enabled terminals by using dynamic encryption technology to authenticate, authorize and process each transaction. This makes it more difficult for your card information to be duplicated or copied.

Chip cards have been used in many countries around the world for many years and are becoming more common in the United States as issuers and merchants work to adopt chip technology by October 1, 2015, when the rules and responsibilities governing merchant and issuer liability for card fraud are changing.


If your business accepts credit and check (debit) cards for payment, integrating chip technology into your point-of-sale (POS) equipment and infrastructure should be a top priority. Beginning October 1, 2015, if a customer presents a chip card to you for payment but you have not yet installed a POS terminal capable of processing chip card transactions, your business – not the bank – will be on the hook for any card fraud loss that occurs with the transaction.

Don’t let your business pay the price for the fraud liability shift. City National can help you prepare for the October 2015 deadline. For more information give us a call us at {{8005990020_treasury_call_center}}.