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Horizon Bank

Chip Card FAQs

What is a chip card or smart card?

These are credit and debit cards with a small secure microchip built into the card. Chip-enabled cards are also sometimes referred to as “EMV cards” or “smart cards.” The cards offer enhanced security by generating authentication codes dynamically when a cardholder makes a purchase.
 

This means that when cardholders enter their PIN or sign for a purchase, the amount is processed using a code that is different every time — making it virtually impossible for theft to occur by copying card data electronically.
 

How is an Chip Card terminal used?

Chip card terminals are used to accept microchip-enabled cards, which offer enhanced protection against fraud.  Your customer will insert their card into the terminal. Sometimes they will be prompted for their PIN.

Will customers still need to sign?

Sometimes. Some cards may still require a signature instead of a PIN.

What are the business benefits of using a Chip card terminal?

By implementing chip card technology, customers will have greater trust when they shop with you. So the business will benefit by building customer loyalty — and you’ll also see reduced payment fraud from counterfeit, lost, and stolen cards.

Plus, you’ll also be able to accept mobile payments, from people using tools like Google Wallet and Apple Pay, which are becoming more and more popular with young consumers.
 

About how much does it cost my business?

The costs vary based on the type of merchant processing equipment & products a business uses. Contact your Horizon Bank Advisor for suggestions on the best product to suit your business needs.

How will restaurant owners be affected by chip card technology?

Small restaurants or quick service restaurants will also be realize the shift in liability should it process a counterfeit transaction using a non-chip card terminal.  Restaurants will be required to process customer payments at the table or at a counter where the credit or debit card never leaves the card holder’s possession.  In addition, the tip function for table side service will no longer be available.  All tips will be included in a single credit card transaction.

What kinds of chip card terminals are available, and how do I choose?

Contact your business banker to discuss the best product for your business needs.

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Making sure your employees get paid on time to every day purchases - even making international payments - Horizon Bank has options designed to suit your business.

 

Business Need

Horizon's Solution

Eliminate paper checks to employees

Direct Deposit

Make purchases directly from your account

Debit Card

Earn reward points while managing employee spending

Credit Card

Manage large volumes of employee expenses

One Purchasing Card

Make payments electronically like payroll or taxes

ACH Payments

 

Direct Deposit

Horizon Bank Direct Deposit is a valuable resource for businesses and organizations looking to reduce operational time and errors made during their payroll period. With Direct Deposit, you will be able to set up electronic transfers of funds directly to all of your employees’ checking or savings accounts.

  • Ensure that your employees are paid accurately and on time
  • Eliminate transaction risks by creating a direct line of payment from your business account into your employees’ personal accounts
  • Eliminate costly and inefficient paper checks and reduce the time your business spends on payroll

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Business Debit Card

The Horizon Bank MasterCard® ATM Business Debit Card is a debit card designed to help you make the purchases your business or organization needs to help achieve its goals. With this debit card, you will be able to quickly and securely withdraw funds for purchases, or make electronic payments directly from your associated Horizon Bank business checking account.

  • The cards are instantly issued at any Horizon Bank branch
  • Make purchases directly from your business funds whenever and wherever you need it
  • Purchase anything your business needs at any location MasterCard® is accepted
  • Start making safer business transactions through a secure electronic transfer of funds directly from your business checking account
  • Earn FREE Debit Rewards on every purchase.

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Business Credit Cards

Horizon Bank Business Credit Cards are designed to meet all of your business or organization’s short-term and long-term financial goals. Through the business credit cards listed below, Horizon Bank provides a suite of critical financial management and growth features, including award-winning expense management tools, significant security benefits, and even free employee cards. 

HZN_ApplyOnlineTodayK_v1What are Chip cards?

  • Manage Daily Merchant Processing Activities Efficiently with our Free Online Account Management Tool
  • 24/7 Customer Service and Terminal Support
  • Free employee cards
  • EMV smart chip technology for added security
  • Mobile purchasing for added convenience

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One Card Purchasing Card

The Horizon Bank Visa® One Card Purchasing Card is the ideal business card solution for your business, non-profit or government agency if you are looking to better manage your organization’s travel and purchasing transactions through a single card program. For many larger organizations, travel and entertainment transactions consume a substantial percentage of their operating budgets, and the Visa® One Card Purchasing Card has been uniquely created to help manage those expenses.

  • Designed specifically to meet the needs of significantly sized businesses, non-profits, and government entities.
  • Safely and efficiently address your business’s travel and entertainment expenses
  • Manage your purchasing programs with this single payment solution

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ACH Payments

Horizon Bank Electronic Automated Clearing House (ACH) Payments enables you to manage your business-to-business transactions more easily and safely through a powerful electronic network for financial transactions. Through ACH Payments, your organization will be able to make electronic payments to vendors or other businesses, making it easier for you to meet the demands that come with maintaining and growing your business.
 

  • Take advantage of the powerful Automated Clearing House, an electronic network for financial transactions
  • Arrange safe and secure payments directly to your business partners
  • Increase the efficiency of your business-to-business interactions by timing your payment to your schedule

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