What you should know about EMV chip technology

EMV chip cards generate a unique transaction code for each swipe or dip, which sharply reduces the value of stolen card data for counterfeit fraud.

For merchants, chip acceptance means updated terminals and staff habits. For issuers and cardholders, it means fewer chargebacks tied to cloned plastic.

NovaBank recommends enabling chip-first acceptance, monitoring fallback magnetic-stripe rates, and educating teams on what a failed chip read should trigger.