Chase Visa Cards

US Bank and Chase Add to EMV Chip Cards for Travelers

U.S. Bank is joining the small-but-growing ranks of American financial institutions offering credit cards with tiny, secure microprocessing chips that are widely used overseas. But U.S. Bank’s card, aiming for maximum flexibility, uses technology that lets the card work with three different payment systems.

The bank, the main banking unit of Minneapolis-based U.S. Bancorp, says its FlexPerks Travel Rewards Visa card offers the embedded E.M.V. (for Europay, Mastercard and Visa) chips, which are becoming prevalent in Europe, as well as the older magnetic stripe technology, which is still dominant in the United States.

The U.S. Bank card also can be used in “contactless” payment systems available at some locations in the United States. These systems let the customer wave the card at a payment terminal to make a purchase, rather than sliding it through a reader at checkout.

That’s a lot of technology sitting in a little plastic rectangle. The bank says that will allow its customers to have the “best experience possible wherever they go.”

“While we believe E.M.V. is important for our international travel cardholders, we are committed to driving contactless mobile payments in the United States,” said Cliff Cook, chief marketing officer for the bank’s retail payments unit, in a press release.

Roughly 20,000 FlexPerks Visa cardholders will get the new cards this month. The bank plans to expand the card to other travel reward cardholders in the coming year.

E.M.V. technology is considered more secure than magnetic stripes and is widely used in Europe. Some American cardholders have had trouble using their magnetic stripe cards abroad, particularly at unattended kiosks used to sell train tickets and the like, as this Practical Traveler column discussed. The cards have been slow to catch on in the United States, in part because of the expense merchants will incur to install new, compatible card readers at their registers.

Recently, some big banks— Wells Fargo and JPMorgan Chase —as well as some smaller credit unions have introduced cards with E.M.V chips for customers who travel internationally. Chase has said it will expand its E.M.V. offerings in the coming months, and on Monday it introduced a second E.M.V. card, JPMorgan Select Visa Signature® card. Unlike some versions of E.M.V. cards, which require a PIN, Chase’s smart-chip cards use a signature, but you don’t have to sign at unmanned kiosks, according to the bank.

Chase Develops EMV Chip for Visa Card to Enhance Security

In April, Chase Card Services publicized its groundbreaking EMV chip, a new technological device that will improve security for international travelers. Separating itself from other competitors, JPMorgan Chase became the first major U.S. bank to use the EMV technology on its Palladium credit card.

As of today, the EMV chip technology is available on a second card, the J.P. Morgan Select Visa Signature card. With these cards, consumers will be provided greater usage and security while overseas.

General Manager of Chase Card Services, David Porter, explains that, “Offering EMV chip technology on the J.P. Morgan Select credit card is an expansion of our ongoing commitment to offer the highest level of security and convenience when traveling abroad.” With this new technology, travelers can count on their credit and debit cards working properly and securely at the register.

EMV helps protect users against fraud by using an encrypted chip rather than a magnetic strip. The processing time for EMV enabled cards is much faster and will ensure increased protection during international transactions.

Technology experts say that the chip is exponentially more difficult to copy because of its superior handling and storage capacity. Instead of signing a paper receipt, card users must enter a PIN code to confirm their identity. Credit Card JP Morgan Select the features of both a chip and EMV tape for the benefit of card users in the United States.

JP Morgan Select Users credit card should also expect a smoother transactions, increased safety, no exchange fees, and access to a multitude of rewards and benefits. This card is usable anywhere in the U.S.that accepts magnetic stripe cards and more than 130 countries. According to EMVCo., Developer of the technology, 89 percent of dealers in Western Europe are able to read encrypted smart cards.

In response to this new development by JPMorgan Chase, U.S. Bank has introduced its first dual-interface card. Consumers can expect to see the new map of the U.S. Bank by the end of June

"United States Bank is pleased to be the first issuer in the United States to provide dual interface EMV cards that can be conveniently used anywhere – whether it be a chip-card reader with a merchant overseas or a contactless payment terminal or magnetic stripe reader here in the United States,” said Cliff Cook, chief marketing officer for U.S.

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