In the month of November SGE Credit Union advanced into the ‘smart card’ era with the introduction of Visa (EMV* ) chips in all Visa cards issued by the credit union.

The EMV enhancement ensures security and global usage so that all Debit and Credit Cards can continue to be accepted, both globally and domestically at all point of sale terminals, as is the case today with magnetic strip cards.

EMV chip technology is provided in the form of a microchip and is designed to increase card security by adding a second level of authentication when performing Visa transactions. Issuing EMV chipped cards is a giant step forward in card fraud prevention, as it will greatly benefit cardholders by providing increased transaction security and reducing card fraud activity (such as card skimming).

Although Visa fraud is present in Australia, it mainly occurs when people are travelling overseas. Due to this, it is highly recommended that members contact the credit union and request to be issued an EMV chipped card before travelling overseas, in order to minimise the risk of fraud occurring on your account.
Members will receive this new technology when their current card is due for renewal or a new card has been requested.