Yes, Petal has an EMV Chip. An EMV chip is a small electronic chip embedded in the card that you insert (or ‘dip’) into a card terminal instead of swiping. Every time an EMV card is used for payment, the card chip creates a unique transaction code. This code can only be used once, which protects against fraudsters trying to duplicate your card.
Fun fact: EMV stands for Europay, Mastercard and Visa, which is the group that created the standard for chip cards.