Bank of Hawaii said Tuesday it will put EMV chip technology in all of its debit cards.
The transition means that more than 300,000 cards will be replaced, according to David Oyadomari, executive vice president of products, payments and digital channels for Bank of Hawaii. Bankoh customers will receive new debit cards, regardless of expiration dates, by the end of the year.
The chip will be included in the Bank of Hawaii Visa Debit Card, EASE by Bank of Hawaii Visa Debit Card, Bank of Hawaii Visa Debit Card for Business, Bank of Hawaii Black Visa Debit Card and Bankoh Hawaiian Airlines Visa Debit Card.
Customers will receive new 16-digit debit card numbers and expiration dates, and are encouraged to update any accounts that are linked to automatic bill payments. Customers’ existing bank account numbers and PIN numbers will remain the same and will continue to work at the bank’s 400-plus ATMs.
Chip cards, also known as EMV (Europay, MasterCard and Visa), provide enhanced security against fraud when presented in person at chip-enabled terminals in stores. The encrypted chip generates a unique transaction code aimed at reducing data being stolen at merchant locations.
“Chip technology is among the most fraud-resistant card payment methods available to date,” Oyadomari said.
To complete an in-store transaction, customers will insert the debit card into the chip-enabled terminal, follow the prompts and enter either their PIN or signature. The new debit cards also will include the traditional magnetic stripe function to allow customers to swipe their cards in the event that a particular merchant has not yet converted to the technology.
Bankoh has offered terminals for rent that process chip cards and Apple Pay to its merchants, as well as providing in-person installation, training and phone support.
Some of the bank’s credit cards, meanwhile, already have the chip. The Bank of Hawaii Hawaiian Airlines credit card has had the security chip since February 2014, making Bankoh the first Hawaii bank to offer the chip card. The chip technology will be introduced in the bank’s My Bankoh Rewards credit cards beginning in the early fourth quarter.
Visit www.boh.com/chipcard.
