Credit card security
UD credit cards moving to chip and pin technology this spring
8:47 a.m., Jan. 13, 2015--With the need for tighter security for credit cardholders, the U.S. banking industry has been migrating to credit card chip and pin technology.
Beginning this spring, the University of Delaware will begin issuing credit cards using the technology.
FYI Stories
June 6: UDid It! Picnic
2FA protects you
“Chip” refers to a computer chip embedded in the smartcard and “pin” refers to a personal identification number that the cardholder must supply at the point of sale.
As part of this migration process, banks and retailers are replacing traditional magnetic stripe equipment with technology for the embedded microchip in the credit cards.
At the point of sale, the chip in the card in conjunction with the pin entered by the cardholder completes the transaction without the card ever leaving the hands of the cardholder.
Partnering with Bank of America, the University will be issuing new chip and pin credit cards to cardholders in March.
“The University has been using chip and pin cards successfully for the UD study abroad program directors for the last three years,” says Debra Reese, director of procurement. “This has significantly curtailed fraud issues. It has also allowed our users ease of use at kiosks and secure point-of-sale pin transactions across the globe.”
A new card will be available for current UD cardholders in March.
Kathy Roeder, Procurement’s credit card program coordinator, will be distributing the new cards with a common expiration date to make it easier for departments to manage multiple cards and cardholders. The new cards will be valid for a three-year period.
For each cardholder, management of the chip and pin card security will be done online through Bank of America and “pin check.”
Online training videos on this and other topics have been posted on the Procurement website.
For answers to any questions, contact Procurement customer service at 831-2161.