Corporate Card – Chip and Pin Technology
Duke University’s Card Services team is coordinating with Bank of America to replace all of the existing Duke University Corporate Cards with new “chip and pin” enabled cards. Industry standards require card providers to replace magnetic stripe cards with new chip and pin cards by October 2015. Duke is managing this transition through its routine card renewal process. When cardholders’ corporate cards are scheduled to renew, cardholders will be notified and will receive a new chip and pin card. This exchange process has already begun and is scheduled to conclude next summer. As Duke’s corporate card program transitions to the chip and pin technology, cardholders will receive Bank of America mailers, directed to their work addresses, with their new pin number information. Please encourage cardholders to keep their pin information in a secure location. If a cardholder does not receive a mailer, there are additional instructions included in the cardholder’s renewal card package explaining how to obtain the cardholder’s pin number on-line.
Many merchants across the nation already accept cards with the chip and pin technology. Locally, both Target and Wal-Mart stores are using card processing machines that accept chip and pin cards. At this time, these merchants are not requiring cardholders to provide pin numbers when conducting transactions, but cardholders will find they need to insert their chip and pin cards in the card processing machines rather than swiping their cards. When traveling internationally, cardholders should be familiar with their pin numbers and be prepared to enter this information when initiating transactions. Requirement of the pin number is an added security feature that helps merchants and the credit card industry reduce potential credit card fraud.
If you have any questions regarding the transition of Duke University’s Corporate Card program to the chip and pin technology, please contact Card Services at 681-0648 or firstname.lastname@example.org