“The cost and inconvenience, to both our clients and the bank, combined with the advancement of technology and changes in regulations, all makes this the perfect time to reissue the cards and provide additional peace of mind to our clients and the business community within our 12 county footprint,” said Anders M. Tomson, CCTC President and Chief Operating Officer.
“The new cards, which will be distributed during the next 30 days, will contain a microchip which, when used with a merchant’s new microchip reader, provides an extra layer of anti-fraud protection,’ said Michael J. Crimmins, CCTC Senior Vice President of Support Services. “This technology has been used successfully, over the last several years, throughout the world and is only now becoming standard throughout the United States,” Crimmins added.
Along with the re-issuance of the card with the EMV chip, Chemung Canal announced that it will be changing the look of each type of Debit Card, and changing the bank’s affiliation to MasterCard®. “MasterCard® is a highly respected and recognizable brand, accepted by millions of retailers, restaurants and service providers world-wide,” Tomson said.
According to Chemung Canal, not all retailers and service providers have adapted to the new payment technology, but that won’t be an issue for Chemung Canal clients when using their newly issued cards. “Our cards will utilize both the EMV and ‘swipe and sign’ technology,” Crimmins said, “so going forward our clients’ cards will be adaptable to whichever card machine that the merchant utilizes.”