Chase Card Services announced today that EMV chip technology is now available on a second credit card in the company's portfolio, the J.P. Morgan Select Visa Signature® card.
In April, Chase became the first major U.S. bank to produce EMV technology featuring chip-and-signature on its J.P. Morgan Palladium credit card. Both cards provide consumers with better ease-of-use and stronger security while traveling abroad.
The J.P. Morgan Select credit card with chip-and-signature technology features both an embedded encrypted chip and traditional magnetic strip to accommodate merchants in the United States. The embedded microchip of chip-and-signature makes the card extremely difficult to copy because the encrypted chip enables the safer processing and storing of data. European financial institutions and merchants have been using chip cards and terminals, so cards with chip-and-signature technology offer more streamlined credit card purchases while traveling in Europe, Asia, Canada and elsewhere abroad.
"We're continuously evolving our offerings with our customers' best interest in mind," said David Porter, general manager, Chase Card Services, a division of JPMorgan Chase & Co. [NYSE: JPM]. "Offering EMV chip technology on the J.P. Morgan Select credit card is an expansion of our ongoing commitment to offer customers the highest level of security and convenience when traveling abroad. EMV also enhances this premium credit card that features robust point accrual and redemption rewards on the Ultimate Rewards platform."
In addition to EMV chip technology, the J.P. Morgan Select credit card also includes the following benefits:
* Smoother transactions during international travel: Many other countries, especially in Europe, are switching to chip cards - Chase's chip-and-signature cards will simplify transactions for travelers while abroad in the 130+ countries where chip technology is in use.
* Enhanced security: Chip-and-signature credit cards are embedded with an encrypted microchip that safely processes and stores data and makes the card much more difficult to counterfeit.
* No foreign exchange fees: Travelers will save up ill save up to three percent in foreign transaction fees on purchases made abroad using the J.P. Morgan Select credit card.
* Ultimate Rewards platform: Customers earn two points for every $1 spent on travel and entertainment and one point per $1 spent on all other purchases. There are no earning limits and points do not expire.
* Visa Signature Concierge: J.P. Morgan Select cardmembers have access to a concierge 24/7 for assistance with travel planning, hotel accommodations and dining reservations.
* Visa Signature Luxury Hotel Collection: Access to exclusive benefits at more than 800 luxury hotels around the world.
Chase's cards with chip-and-signature technology can be used everywhere traditional magnetic strip cards are accepted in the U.S. and in more than 130 countries abroad where chip technology is implemented.