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Are Chip Cards Worth The Hassle?

By June 28, 2017May 25th, 2022No Comments3 min read

ATM card technology continues to change with the goal in mind of increasing account security. Most ATM cards nowadays come equipped with a chip inside of them that is to be inserted into ATMs and other card-reading devices in order to access account information and funds. These chip cards—also known as EMV (Europay, MasterCard and Visa) cards—can cause longer waits at ATMs, banks and checkout lines, so is this change to our ATM cards worth the hassle? It is when it comes to keeping your financial accounts safe.

Chip-embedded cards, which landed in the United States in 2015 after experiencing popularity in Europe and Brazil, are more secure than old magnetized strip cards because they generate a unique code for each transaction.

These transactions can take noticeably longer to process when using chip cards, however, the extra seconds that it takes to use them are seemingly trumped by the security that they can provide their users.

According to a poll taken by, 70 percent of people said ‘Yes’ when asked if the extra security of a chip card is worth the extra seconds at check out.

The increased security of chip cards is tangible, and some of the country’s biggest merchants have already seen a dip of more than 18 percent in counterfeit transactions, according to Visa.

In order to help further meet the needs of its consumers, Visa has also developed software upgrades that are meant to reduce usage time of the chip cards to about two seconds per transaction.

Since chip cards have already been implemented in many regions across the globe, the EMV technology can make traveling outside of the U.S. more convenient for card users. EMV card terminals are in use all over the world and continue to grow in popularity.

Benefits of Chip (EMV) Cards:

  • Greater protection against counterfeit-card fraud
  • More convenience and flexibility for customers when traveling abroad
  • Allows merchants to accept contactless mobile payments, such as Google Wallet and Apple Pay

As of Oct. 1, 2016, ATM owners were made liable for fraudulent transactions if an EMV card is used but the merchant chooses to process the payment using the magnetic strip instead of EMV technology. This can be prevented by merchants installing EMV-enabled terminals. Here at National Cash Systems, we’re ready, willing and able to help you get ahead of the change and make the transition to EMV compliance.