|EMV Chip Technology Gains Wider Acceptance Among Credit Card Issuers|
|Written by Michael DeMarco|
|Tuesday, 07 August 2012 10:31|
We have recently seen a surge in the number of firms adapting EMV (EuroMasterCardVisa) chip technology in their credit cards. The EMV chip promises to keep the account holder’s information “encrypted,” making it difficult for a hacker to extract the sensitive personal and account information necessary to complete an unauthorized purchase. Because the EMV chip is widely used outside the United States, these firms are also adapting the technology in an effort to increase the acceptance of their cards at foreign merchants.
Currently, three Bank Monitor firms – Bank of America, CitiCards and U.S. Bank – have introduced credit cards with EMV chips. Let’s take a look at how these firms are promoting their new offerings:Bank of America
Through a press release, Bank of America did a nice job communicating the benefits of EMV technology. They also announced which cards would receive the chip automatically and what cards offer the chip as a free optional upgrade. Individual card product pages were also updated on the public site credit card section to reflect the changes.