10 December 2016
Visit aciworldwide.com

Wells Fargo pilots EMV tech for international travellers

13 April 2011  |  9228 views  |  0 card chip

US bank Wells Fargo has moved to address the problems faced by customers when they travel abroad by piloting Visa cards that includes EMV chip technology as well as mag-stripes.

The US has been the one major player to resist the expensive migration to the chip and PIN standard from mag-stripe cards, posing a problem for Americans on their travels.

Wells Fargo is testing a Visa Smart Card that includes the technology with 15,000 customers who travel internationally. Giesecke & Devrient is providing the cards, personalisation and fulfilment services.

Eric Schindewolf, VP, product development, Wells Fargo Consumer Credit Card, says: "By combining traditional magnetic stripe along with the EMV chip technology, we hope our customers will have the convenience to use their credit card no matter where they are in the world."

There have been signs that the US is finally moving towards chip and PIN, with calls coming from merchants, led by giant Wal-Mart, for its introduction amid fears that international fraudsters will turn their attention to American shores.

Travelex recently introduced a pre-paid foreign currency Chip and PIN card denominated in euros and pound sterling for US travellers abroad while French manufacturer Gemalto has its own dual interface EMV offering.

Last month State Employees' Credit Union went a step further, revealing that it will be one of the first financial institutions in the US to roll out EMV debit cards to its 1.6 million customers.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Chip and PIN 'broken' - researchers

Chip and PIN 'broken' - researchers

23 March 2011  |  14418 views  |  8 comments
State Employees' Credit Union makes EMV move

State Employees' Credit Union makes EMV move

01 March 2011  |  10283 views  |  0 comments
Travelex US issues Chip and PIN foreign currency cash card

Travelex US issues Chip and PIN foreign currency cash card

02 December 2010  |  10303 views  |  2 comments
Over one billion EMV cards now active

Over one billion EMV cards now active

06 October 2010  |  15024 views  |  0 comments
Wal-Mart executive calls for US move to Chip and PIN

Wal-Mart executive calls for US move to Chip and PIN

25 May 2010  |  16391 views  |  3 comments
Gemalto unveils EMV card for US travellers

Gemalto unveils EMV card for US travellers

12 February 2010  |  10302 views  |  1 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit VocaLink.comhttp://www.financialcrimerisk.fiserv.com/aml?r=finextraVisit contisgroup.com

Top topics

Most viewed Most shared
China tops world fintech rankingsChina tops world fintech rankings
8602 views comments | 39 tweets | 31 linkedin
EBA bends under weight of PSD2 mandatesEBA bends under weight of PSD2 mandates
8243 views comments | 37 tweets | 48 linkedin
Guesswork alone can crack Visa card security - Newcastle UniversityGuesswork alone can crack Visa card securi...
8039 views 12 comments | 15 tweets | 27 linkedin
PSD2 will transform the payments landscapePSD2 will transform the payments landscape
7171 views comments | 24 tweets | 13 linkedin
Fed Governor sounds warning on alternative credit scoring dataFed Governor sounds warning on alternative...
6861 views comments | 20 tweets | 24 linkedin

Featured job

to Six-Figure Base, Commission, Benefits
London, UK

Find your next job