With the addition of the EMV chip to debit and credit cards, and the added ease of shopping with mobile payment options, you’re in for a more secure holiday shopping season this year. Here’s how LGFCU is keeping your financial data safe while you shop this season.
EMV chip cards
The addition of EMV chip cards is an extra step toward keeping your financial data safe. For every transaction made at a retail terminal, the chip masks your real account number with a unique code. This makes it much harder for a thief to use your card number to make a purchase.
EMV credit and debit cards — named for its developers Europay, MasterCard® and Visa® — have been widely used in Europe and Asia since the late ’90s. Last year, many U.S. financial institutions, including LGFCU, added chips to members’ debit cards and credit cards to provide enhanced security.
Mobile and online payments
You can leave your credit card at home and still enjoy a secure shopping experience using your mobile device. Add your LGFCU Visa® debit or credit card to any mobile payment system like Apple Pay®, Android PayTM or Samsung Pay to create a digital wallet.
Add your LGFCU credit card to your digital wallet, which stores your data so you can make mobile payments directly through your phone or device. Digital wallet apps use Near-Field Communication (NFC) technology to let you tap or wave your phone to pay.
To reduce the threat to your personal data, the systems use tokenization to mask your actual card number and secure your transaction. They also take security measures like not storing your card numbers in their entirety and offering easy app disabling if your card or device is lost or stolen.
Use Visa Checkout or ApplePay with participating online merchants for faster checkout and added security.
Take extra steps to protect yourself
Shop safe this holiday season with the following tips:
- Never shop with a retailer or organization you’re not familiar with.
- If an email offer looks too good to be true, it probably is a scam. Check the retailer’s website to verify if the offer is real.
- Install security software, as well as anti-virus and anti-malware, on all devices.
Shop with confidence this holiday season knowing your accounts are secure. However, if you suspect unauthorized activity, call us right away at 888.732.8562.