Cardholders

The functions and security features of chip cards are based on a proven technology.

Features

• Chip credit card transactions won't require a signature, and will be authorized using personal identification numbers (PIN), just like debit card transactions are now.
• A PIN is used to authenticate all transactions (credit and debit) made with chip cards.
• Chip cards are inserted into the point-of-sale terminal (not swiped) and remain there until the transaction is completed.

Advantages

• Chip cards provide increased transaction security because they feature perfected mechanisms that efficiently protect against card fraud and skimming.
• Transactions will be authenticated using a PIN, which will further reduce incidents of fraud.
• The new cards will be completely compatible with the payment systems that are already in place abroad.
• Chip credit cards will simplify and reduce transaction processing time since merchants won't have to check cardholder signatures.

When?

Desjardins has scheduled a trial period for the chip cards in 2008 in Kitchener-Waterloo (Ontario). The spring 2008 launch is slated for St-Jérôme and the chip cards will enter the mass market later the same year. Given the massive number of cards that will be issued, the chip cards will not all be issued at the same time.

Will magnetic strip cards still be accepted?

Yes. Magnetic strip cards are safe and will continue to be accepted until all financial institutions and retailers have equipment that accepts chip card technology.

Note that retailers will have terminals that accept both chip cards and magnetic strip cards.

VISA Desjardins credit cards and Desjardins Access Cards will have both the magnetic strip and the chip; thus, they will be accepted everywhere.

All cards will work with all equipment, specifically:

• Chip cards
• Magnetic strip cards

Find out more about chip cards

Read the FAQ.

Business cardholders	Montreal area: 514-397-4600 Elsewhere in Canada: 1-800-266-5662
VISA Desjardins credit cardholders	Montreal area: 514 397-4415 Elsewhere in Canada: 1-800-363-3380
Desjardins Access Card users	1-800-CAISSES (1-800-224-7737)