Visa is on the forefront of integrating chip technology into a more convenient, secure payment card platform. With more than 262 million² Visa chip & PIN cards issued around the world, Canadian Visa cards are now being converted to chip & PIN.

Research indicates that the costs of chip acceptance are outweighed by the benefits.³ Tesco, the United Kingdom's largest retailer, with over 1,700 stores, enjoyed a positive return on investment (ROI) less than a year after adopting the chip platform.⁴ Tesco reported that it realized savings through decreased transaction times, a reduction in store supplies, and increased protection against fraudulent chargebacks.⁵

While Canada and many countries around the world are migrating to chip technology, you will continue to see magnetic stripe only cards from non-chip countries, such as the United States. These cards will continue to provide a safe, reliable and convenient method of payment. In addition, chip-reading terminals will be able to process Visa cards with a magnetic stripe, in which case the card is swiped.

¹ Visa Canada Consumer Survey - Maritz Thompson Lightstone Research, 2004
² As reported March 2007 by Visa financial institutions globally
^3-5 The Implications of Chip & PIN Migration: A Canadian Retailer's Perspective - J.C. Williams Group, January 2007