EMV Chip Technology
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EMV Chip Technology

EMV is the recognized standard for debit and credit payment cards using chip card technology developed by Europay, MasterCard, and VISA. EMV is an initiative to reduce counterfeit cards through the use of smart chip embedded on the face of the card.

Bank of Guam's cards are transitioning to chip, a new generation of payment card technology that will make a safe payment system even more secure.

EMV for Cardholders

What is EMV?

EMV is the recognized standard for debit and credit payment cards using chip card technology developed by Europay, MasterCard, and VISA. EMV is an initiative to reduce counterfeit cards through the use of smart chip embedded on the face of the card.


Evolution of Card Technology

Bank of Guam's cards are transitioning to chip, a new generation of payment card technology that will make a safe payment system even more secure.

The new cards will contain an embedded smart chip that puts the power of a computer onto your card. The smart chip gives your card the ability to store and process data, thereby providing an additional layer of security against fraud. Card fraud has been growing significantly over the years affecting millions of cardholders worldwide.


Important Dates

Bank of Guam cardholders will be receiving their new chip cards in the second quarter of this year. In the meantime, you will be able to continue using your current card at ATMs and point-of-sale terminals that accept traditional magnetic strip cards.


Enhanced Security

The new cards will offer enhanced security with every electronic transaction. Here's how:

  • A small smart chip is embedded in the card
  • This smart chip can store and process data securely.
  • The data on the chip is extremely difficult to copy or change, minimizing the chance of counterfeit fraud.
  • Customers who combine PIN protection and chip technology enjoy even greater electronic transaction security.

Same Reliable Way to Pay

The new EMV cards will provide the same reliable payment system combined with all-new technology. You will be able to use your card anywhere you use it today.

Chip cards will still have a magnetic strip on the back of the card to ensure continued acceptance at locations around the world that haven't yet converted to chip technology.


Carrying Out a Chip Transaction

Carrying out a transaction with your new chip card will be very similar to how you've done it before. The only difference is that you will insert the card into a terminal rather than swiping it. (No more confusion about whether the strip faces in or out!)

Here's how it will work at either a point-of-sale (POS) terminal or an ATM:

1. Insert your chip card into the card reader.

2. Leave your card in the terminal for the duration of the transaction.

3. Follow the prompts as usual to complete your transaction.

4. Once the transaction is complete, remove your card from the machine.

Frequently Asked Questions

In the next few months, the Bank of Guam will be reissuing cards outfitted with EMV chips to all customers who currently have a debit card. Please refer to the following questions and answers for information regarding EMV.


What is EMV?

EMV is the recognized standard for debit and credit payment cards using chip card technology developed by Europay, MasterCard, and VISA. EMV is an initiative to reduce counterfeit cards through the use of smart chip embedded on the face of the card.

Do I need to update my contact information to receive my new card?

Yes, it is extremely important that you update your address and contact information with the bank, otherwise you may not receive your card.

Why are EMV debit/credit cards and EMV payment transactions secure?

Chip cards are more secure than traditional magnetic strip cards because a unique digital signature is generated and encrypted each time the chip card is used at a chip-enabled ATM or terminal. This dynamic encryption technology makes it extremely difficult for financial criminals to create a counterfeit chip card.

Will there be any changes when I use my new chip card at merchant locations and ATMs?

Yes. If the merchant terminal or ATM is already EMV-enabled, you need to insert the card in the card reader and leave it there until the terminal or ATM prompts you to remove it; otherwise, the transaction will be cancelled. But if the terminal or ATM is still not yet EMV-enabled, then you can continue to swipe or dip the card.

Will Bank of Guam be upgrading their ATMs and merchant terminals to be EMV-enabled?

Yes. Bank of Guam will be upgrading its merchant terminals and ATMs in the coming months.

Is EMV going to be implemented in the U.S.? Are financial institutions adopting this technology?

Yes, EMV technology will be the chosen method of payment for all financial institutions in the United States within the next few years.

Will I have issues traveling abroad if I have a card with the EMV chip?

If you are traveling abroad, you should not have any issues making purchases. EMV chip card technology is supported in 80 countries abroad, including Canada, countries in Europe, Latin America and Asia, making your purchasing experience that much easier.

Can EMV protect me against fraud when I make purchases online?

No, EMV technology does not protect against purchases made online where the card is not physically present.

Will the EMV chip cards also have the magnetic strip?

Yes, your new EMV chip card will include the magnetic strip, giving you dual-purpose technology to enhance your purchasing capabilities. This means that you will be able to use the EMV chip at retailers who support EMV processing, and the magnetic strip at all other locations.

By having both the EMV chip and the magnetic strip on my card, is the improved fraud protection provided by EMV void?

No, the improved fraud protection provided by the EMV chip is not void. The EMV chip provides enhanced security utility when used at an EMV card reader, and the magnetic strip provides the convenience to use your card at any merchant locations that have not yet implemented EMV payment processing terminals.

Will activating the new card deactivate my old card?

Yes, activating your new card will automatically deactivate your old card.

Will the PIN for my old card transfer to my new card?

Yes, the PIN from your old card will transfer over to your new card.

How will I know if I need to use the EMV chip or the magnetic strip when I make a purchase?

If you swipe your magnetic strip on an EMV terminal, you will be prompted to insert your EMV chip card into the slot on the bottom portion of the machine to pay for your purchase. If the payment processing terminal is not EMV-enabled, you will be able to make your purchase using the magnetic strip.