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Chances are you’ve accustomed new versions of your acclaim cards in the mail recently. These new cards may attending absolutely like the ones they are replacing except for one key accession — a computer chip.

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This may accomplish faculty to you if you’ve afresh been to Canada, Latin America, or Europe — or akin your bounded Walmart — area you may acquire encountered terminals that ask spenders to dip their artificial rather than swipe. Acclaim cards with a computer dent acquire become the barometer globally because they are about safer for in-person purchases.

Here’s what you allegation to acquire about your new card.

What does the dent do?

The computer dent — technically alleged an “EMV” dent for Europay, MasterCard, Visa, the three companies that created the technology accustomed — creates a altered signature for anniversary transaction. By contrast, the advice on your old card’s alluring band remained constant, authoritative it easier to counterfeit. Basically, this agency that hackers can’t brush your acclaim card’s abstracts and again put it on addition agenda to accomplish afflicted purchases.

Does that absolutely happen?

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Counterfeit artifice –when addition steals the advice off the alluring band back you bash the agenda and again reproduces it on addition agenda — absolutely accounts for 37% of all acclaim agenda artifice in the U.S. The fraudsters usually use those afflicted cards to buy things (like allowance cards or smartphones) that the fraudster can again resell for cash.

OK, so the change sounds good. Why now?

It isn’t due to some new authoritative adjustment or law, but rather the aftereffect of a accountability shift. MasterCard and Visa absitively calm that, afterwards Oct. 1 whichever article (bank or store) had the bottom technology would be amenable in the accident of a hack. (Right now alone the issuer is responsible.)

So if a coffer didn’t affair an EMV card, it would be on the angle for any artifice that occurs. Ditto for a abundance that hadn’t installed a new terminal able of annual the card. (If both acquire the technology, a MasterCard backer argues, there artlessly won’t be any afflicted fraud.)

Will I absolutely be dipping instead of annexation on Oct. 1?

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It depends, but apparently not that about — akin admitting it’s been two years back MasterCard and Visa appear the deadline. In the U.S., which is the aftermost big developed abridgement to acquaint this acquittal system, acceptance of EMV technology has been slow. Reissuing all of these cards has bulk banks a appropriate block of change, and affairs and installing new terminals able of annual your new agenda are a big bulk for baby and big merchants alike.

MasterCard’s assurance and aegis expert, Carolyn Balfany estimates that about 65% of all cards will acquire a dent and about 40% to 50% of merchants will acquire the all-important terminals by the end of the year. “Other countries acquire had to assignment years to get to those types of numbers,” says Balfany. “If we’re appropriate about our projections, it would be terrific.”

So that sounds good, right?

Not so fast. Aloof because a abundance has a acclaim agenda terminal that can apprehend these new cards doesn’t beggarly the arrangement will be up and running.

As few as 20% of these new terminals may be accessible by the end of the year, according to Mercator Advisory Group chief analyst Alex Johnson. “There’s so few merchants who will acquire EMV that consumers will use alluring strips for the majority of affairs for the aing year or two.”

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In fact, one contempo analysis begin that alone 22% of baby business will be accessible to acquire EMV cards by the Oct. 1 deadline. And a majority of terminals won’t be enabled to apprehend EMV acclaim cards until 2017, per a contempo Mercator analysis note.

Does the borderline administer to all retailers?

One notable barring is gas stations. Due to the bulk and authoritative complications of installing acclaim agenda processing at the pump, these merchants acquire until 2016 to accomplish their upgrades. Which means, of course, that every time you ample up your tank, you could be the victim of fraud.

“I went to ample my car up the added night, and the way it was activity in didn’t feel right, so I went to a altered pump,” says Owen Wild, all-around business administrator for NCR, a customer transaction technology company.

Once I get a card, do I allegation to do annihilation differently?

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You may acquire heard that there are two altered kinds of EMV technology: chip-and-PIN and chip-and-signature. To use your agenda at retailers that acquire a chip-and-PIN setup, you’ll allegation to actualize a claimed ID number, abundant like with your debit card, and use it for purchases.

Chip-and-PIN technology is acclimated added broadly overseas, and is advised safer back a PIN is harder to falsify. Both, however, will be accustomed by merchants in the U.S.

Will EMV accomplish online purchases safer?

Well … maybe. “Transactions fabricated online or by buzz aren’t afflicted by EMV technology, authoritative them an adorable another to bribery for fraudsters,” says NerdWallet acclaim agenda able Sean McQuay.

After the U.K. fabricated a agnate alteration to EMV cards in the average of the 2000s, article alleged “card not present” artifice — about online- and phone-related annexation — jumped 186% from 2004 to 2014, according to Mercator, akin admitting in-person artifice beneath appreciably over the aforementioned time period. (Of course, online purchases additionally exploded over that time period.)

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What can you do? Be vigilant. Sign-up for argument alerts afterwards purchases, and adviser your affairs online. If you see a problem, alarm your acclaim agenda company. (Cards on the Discover It belvedere acquiesce you to benumb your annual if you’ve absent your agenda or see article fishy.)

But I’m not amenable for the fraud, right?

No, you are about not amenable for the artifice that is committed on your card. The Fair Acclaim Billing Act caps the bulk you can be answerable for fraud, at $50. But affairs are your issuer won’t absolutely allegation you for annihilation that was illegally purchased, because issuers don’t appetite to accomplish you anticipate alert about spending on your card, says Johnson. They aloof appetite you to spend.

What about Apple Pay?

One ancillary account for Apple and Android, and appealing anon Samsung, users is that these new terminals are able to booty payments from your phone. So-called a acreage advice is about advised to be safer than application your card, anyway. So already merchants get about to installing terminals able of annual a acclaim agenda chip, you ability be advantageous with your phone, anyway.

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