FNB Business Credit Card chip & PIN Frequently Asked Questions What is a chip card? Chip cards are plastic cards containing a silicon computer microchip. The chip stores data and performs processing functions such as payment of purchases. Why a chip & PIN card? At FNB we care about card security. With a chip & PIN Card you are required to activate your credit card once received and use a PIN number to make a transaction. Fraudsters are constantly looking for new ways to compromise payment cards. Chip & PIN cards help protect against this threat, as, unlike the magnetic stripe on existing payment cards, the information the on the chip cannot be copied onto another chip. How does the chip work to secure a card? The chip uses encryption technology to authenticate the card and ensure that the card is genuine. Before the card is issued, data unique to the card is encrypted in the chip and is only known to the card issuer. At the time of a transaction, the terminal will request the encrypted information from the card (off-line). Once the card has been validated as genuine, the transaction can proceed. Can Chip & PIN cards be used in all electronic terminals? The chip embedded in these cards is only effective inchip-enabled terminals. However, while the migration to chip cards is underway, these cards will continue to have the traditional magnetic stripe on the back for use in non-chip enabled terminals. FNB Speed Point terminals are chip enabled. Will I still have to sign for a transaction? This is dependent on the merchant. Certain merchants will still insist on a signature even if you have inserted your PIN. First National Bank of Namibia Limited – an Authorised Financial Services Provider. Reg No. 2002/0180 What will happen to the existing magnetic stripe on the card? The magnetic stripe will remain on the cards, including new cards issued with a chip, so that the cards can continue to be used in both local and foreign locations that have as yet not been upgraded to accept Chip & PIN cards. Why are these changes taking place now? Magnetic stripe payment cards have been in used for approximately 30 years. Migration to chip & PIN technology now enables us to cater for different demands of customers into the next millennium. The ability of chip technology offers both security and an expanded memory capacity means that it will play a vital role in future customer focused value-added services and relationships for many years to come. I currently have an FNB Credit Card that does not have a chip, when will I be upgraded to the chip product? FNB will be issuing chip cards in a phased approached. All new, replacement and re-issued card will be issued as a Chip & PIN card. Alternatively, you can contact 061 299 2213 to order a new chip card before your existing card expires. What happens if the terminal has a problem processing the Chip & PIN card? The new Chip & PIN cards will still carry the familiar magnetic stripe on the back of the card. The chip embedded in these cards will only be effective in terminals that have been upgraded to read these chips. Therefore, if the chip of the card or the terminal’s chip-reader is faulty, the card will fall back to magnetic stripe and the transaction will be processed. Can I change my PIN at an ATM? Yes, if you access your account with the default PIN, you are able to change your PIN at an FNB ATM under the More Options section. Remember you will need to insert your default PIN first to access this facility. What do I do if the ATM retains my Card? If the ATM retains your card, please contact us on 061 299 2213 to arrange for a replacement card to be ordered for you. First National Bank of Namibia Limited – an Authorised Financial Services Provider. Reg No. 2002/0180