First Tennessee to Introduce Chip-Enabled Cards to Protect Customers Against Fraud
September 22 2015 - 10:18AM
Beginning in October, First Tennessee Bank will begin introducing
chip-enabled technology on its credit, debit and prepaid cards to
offer customers enhanced security against fraud. EMV (Europay,
MasterCard, Visa) chip cards are more difficult to counterfeit when
used at chip-enabled terminals. First Tennessee is a subsidiary of
First Horizon National Corp. (NYSE:FHN).
EMV chip cards use an embedded microchip to turn cardholder
information into a unique code that is difficult to duplicate. This
chip technology has been successfully used internationally for many
years and has become a worldwide standard for card security.
First Tennessee's rollout of the EMV chip cards begins in
October with credit cards, followed by debit cards in January and
then prepaid cards. At no cost to customers, existing
magnetic-stripe cards will be replaced with EMV chips cards when
they expire or when a replacement card is requested. Instead of
swiping the EMV card, the customer will insert it into the reader
and keep it there until the transaction is completed. New cards
will also have a magnetic stripe so customers can still swipe their
cards if an EMV-enabled terminal is not present. Many national
retailers have already installed the new terminals.
"Security breaches at national retailers have put customer
information at risk and inconvenienced customers who have to
replace their cards," said Dave Miller, head of consumer banking at
First Tennessee. "The chip-enabled cards will offer an extra layer
of protection for customer data. First Tennessee is working hard to
stay ahead of fraudsters and protect customers."
About First Tennessee
First Tennessee is part of the First Horizon National Corp.
(NYSE:FHN) family of companies. The company was founded during the
Civil War in 1864 and has the 14th oldest national bank charter in
the country. The 4,300 employees of First Horizon provide financial
services through more than 170 bank locations in and around
Tennessee and 26 FTN Financial Group offices across the
U.S. First Horizon has been recognized as one of the nation's
best employers by Forbes, Working Mother and American Banker
magazines. More information is available at
www.FirstTennessee.com.
FHN-G
CONTACT: Jack Bradley, (901)523-4813
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