Suggestions for communicating with members By Stephanie Schwenn Sebring
The Oct. 15 liability shift deadline for merchants and card issuers to make the switch to chip (or “EMV”) cards has just passed. This marks a new era in card transactions: Now the party with the least security offered in a transaction will be liable for any fraud. So many credit unions have already issued chip cards or plan to soon. Whether your credit union has already made the switch or is currently in process, member communication is key. Tailor your message based on member needs:
- EMV card transactions are safer and more secure.
- Some merchants will have the technology right away; others will be slower; and only a few will not convert.
- Remind members that the card stays inserted through the transaction rather than being swiped.
- Credit cards are first; debit will follow later in 2016.
Consider the tangible and intangible benefits:
- reduction in fraud; and
- greater cardholder satisfaction and safety.
Do’s and don’ts for EMV-related messages:
- Keep your words simple and direct.
- Use graphics for card instruction.
- Use a variety of channels to communicate your message.
- Promote EMV as a technology that is more secure.
- Remind members you are their advocate.
- Stay in touch with ongoing member education.
- Email and other digital communication methods can work well in communicating the change.
- For well-traveled members, reiterate the benefits of chip-enabled cards when visiting places like Europe, where EMV is well established.
In addition, there are many excellent EMV resources available, such as www.forumemv.com, www.emv-connection.com, and www.visasecuritysense.com. With 25 years of marketing and communications experience, Stephanie Schwenn Sebring established and managed the marketing departments for three CUs. As owner of Fab Prose & Professional Writing, her focus is on assisting CUs and industry suppliers with their communications needs. Also read "EMV: Communicate Early With Staff," an August 2015 Credit Union Management magazine feature by the same author. On Nov. 10, CEO/Executive Team Network keynote speaker Brett King will talk about “How Customer Behavior & Technology is Changing the Future of Financial Services.” A speaker, innovator and disruptor, King is author of “Breaking Banks” and “Bank 3.0.” The event runs Nov. 8-11.
