EMV chips are microchips embedded into standard credit and debit cards and they protect the card information.
The magnetic stripe on a traditional credit or debit card contains unchanging information about the card, so if someone steals the information from a magnetic stripe swipe, they could replicate that information over and over to make fraudulent charges.
You can request a new card from your bank or credit card company at any time, usually without any extra fees though each institution will be different.
Just like magnetic-stripe cards, EMV cards are processed in two steps: reading the card and verifying the information (usually through a signature or PIN).
The difference is that instead of swiping an EMV card as the first step, you insert or “dip” them into a card reader.
However, chip and signature cards present consumers with the familiar process of signing their receipts (either the hard copy or digitally) and don’t require them to remember an assigned PIN, so most card issuers are sending out chip and signature cards in order to facilitate a smoother transition.
Debit cards with the new chip will most likely have a PIN and if it’s a replacement debit card, the PIN should be the same as before.