28 July 2016
Find out more

Wells Fargo pilots EMV tech for international travellers

13 April 2011  |  9071 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  |  14265 views  |  8 comments
State Employees' Credit Union makes EMV move

State Employees' Credit Union makes EMV move

01 March 2011  |  10152 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  |  10116 views  |  2 comments
Over one billion EMV cards now active

Over one billion EMV cards now active

06 October 2010  |  14851 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  |  16242 views  |  3 comments
Gemalto unveils EMV card for US travellers

Gemalto unveils EMV card for US travellers

12 February 2010  |  10158 views  |  1 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit VocaLink.comFind out moreVisit capgemini.com

Top topics

Most viewed Most shared
MasterCard agrees £700m VocaLink acquisitionMasterCard agrees £700m VocaLink acqu...
9572 views 14 comments | 33 tweets | 38 linkedin
satelliteContactless Bitcoin startup Plutus Tap &am...
9531 views comments | 9 tweets | 4 linkedin
Apps crush internet for UK banking loginsApps crush internet for UK banking logins
8469 views comments | 19 tweets | 25 linkedin
Telefonica Germany launches Fidor-backed mobile banking serviceTelefonica Germany launches Fidor-backed m...
6667 views comments | 16 tweets | 20 linkedin
UK and South Korea build 'fintech bridge'UK and South Korea build 'fintech bridge'
5909 views comments | 13 tweets | 14 linkedin

Featured job

Find your next job