Encrypted Microchip In New Butterfield Cards
The Bank of Butterfield has introduced “Chip and PIN” credit cards, which feature an embedded, encrypted microchip for data storage which enhances fraud and counterfeit protection.
The new technology is first being introduced in the Butterfield / AAdvantage® MasterCard® Black, Butterfield / AAdvantage® Platinum MasterCard®, and the Butterfield British Airways Platinum Visa Credit Cards—the Cards that have the highest volume of overseas purchase activity—and will be implemented across the Bank’s full line of credit cards over the next 12 months.
To make purchases at merchants who are equipped with point-of-sale [POS] terminals that support Chip and PIN technology, cardholders insert their cards at the register into the Chip-enabled POS devices and then confirm the transaction amounts and provide authorisation by entering their Personal Identification Numbers [PIN] on a keypad. With Chip and PIN transactions, credit cards are never out of the possession or sight of Cardholders, minimising the risk of card skimming.
While most overseas merchants in Europe, Canada, Central America and South America are equipped with POS terminals that support Chip and PIN transactions, the majority of Bermuda merchants are not currently so equipped. Butterfield Merchant Services will be working with retailers on the island to upgrade their equipment. In the meantime, Butterfield Chip and PIN Cards will continue to be issued with magnetic stripes and can be used for local purchases via traditional signature authorisation-based transactions.
Peter Jackson, Senior Vice President, Group Head of Card Services at Butterfield said, “Chip and PIN technology is now becoming the industry norm for credit card transactions in most of the world, which is likely evident to anyone who’s travelled and done any shopping in Europe or Canada recently. You occasionally get some puzzled looks from cashiers overseas when you hand them a credit card without a Chip; it takes them a minute to remember how to process a signature-based magnetic stripe card.”
“Consumers shouldn’t worry that their magnetic stripe Cards are not safe—they are, and Butterfield systems and personnel continue to monitor your transactions for potential fraud and verify suspicious transactions—but Chip Cards provide even more security. Butterfield is pleased to be the first bank in Bermuda to provide this enhanced technology and protection to our customers.”
Butterfield has already begun issuing Chip Cards for new AAdvantage MasterCard Platinum and Black and British Airways Visa Platinum accounts. In October, the Bank will begin issuing replacements for existing Cards within the Chip and PIN card portfolio. PINs will be mailed separately for security purposes. Platinum and Black Card Customers who are travelling overseas and wish to obtain Chip and PIN Cards to replace their existing Cards earlier should visit the Electronic Banking department at Butterfield’s Reid Street Banking Centre in Hamilton.
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HSBC Bermuda continues to use outdated technology with their cards.
What’s next de mark of de beast
and what about that device they sent us ???? I and all of my friends do not have clue how to use it !!!!!!!!!!!!!!
Bank of Butterfield I think you are going to have a lot of new customers.
That new device thingy is easy…I’ll send my 5 year old over to teach you…
About time. I have been asking for this for the past 5 years. Someone finally listened. And now they see the demand and security for the chip use.
Thank You Butterfield.
HSBC has been using the chip and pin in their euopean branches for year. I can’t see why they wont do it to their cards here. They are so backwards
Thank you Butterfield Bank and about time as well. The extra security afforded should have been in place ages ago. As a regular traveller to the UK this has been a major problem for me and others for years now. Fewer and fewer stores allow you to purchase using our credit and or debit cards because of the lack of the Chip & Pin
.
Too often have I had to go to a nearby Bank ATM machine to withdraw Cash because the merchans refused the use of my Credit Cards due to no Chip & Pin.
Believe it or not the Bank of Butterfield is ahead of Citibank in the US. We just returned from France and it is ridiculous that US credit cards are so behind in technology. Now the question is…how long before we actually have the improved card in our hand. Please don’t take forever and thanks for moving forward!
I’ve got mine!
HSBC customer care service is disgusting ,if I have a problem I end up with someone in MALASIA !!!!!!!!!!!!!
So many people are so fed up with this horrible service… Please hire a Bermudian who can direct us to whom we need to speak to in Bermuda !!!!!!!!!!!!!!!!!
About time Bermuda gets hip. Now they need to work on getting the debit cards done, so that I can finally use my debit card in majority of the stores in the UK. Tired of getting rejected for not having a chip.
It really annoys me when I have to speak to someone in Malaysia. If I need to call the bank I want to talk to a Bermudian.
Amen. I hate HSBC
Bermuda is so far behind hsbc, in other parts of the world use the security pin device as well as the chip and pin in their cards. Hsbc will soon be doing the same thing to their cards.