M&T adds microchip technology to debit cards

M&T Bank customers are getting new debit cards with microchip technology designed to fight fraud and increase security.

The Buffalo-based bank already is issuing the new cards to customers and expects to issue them to current customers when their current debit card expires. Customers can request a new card at any M&T branch, pr by calling (800) 724-2440, or online at mtb.com/chip.

“At M&T Bank, we understand that the security of our customers’ personal finances and their personal financial information are important and these new chip cards add a new level of protection for customers,” Darren King, executive vice president, said in a statement.

The microchips technology will encrypt account information on the cards and convert it into unique one-time codes when used at chip-enabled terminals. The new debit cards will also have magnetic strips, allowing customers to use the cards at terminals that have not yet upgraded to chip technology.

Many have already received new cards as other banks, retailers and major credit cards have begun adding the microchip technology, known as EMV or Europay, Mastercard and Visa, to their cards, according to Smart Card Alliance, a not-for-profit association working on the widespread adoption of smart card technology.

Businesses that don’t have a chip-enabled card reader by October will be held liable for any card-related fraud.

For more information about M&T’s new cards, go to: bit.ly/1FGN6sZ.

TCLAUSEN@DemocratandChronicle.com