FIS (NYSE:FIS), the world's largest provider of banking and payments technology, today announced its launch of the FIS Travel EMV Card.
The EMV chip card is the first-of-its-kind offering, providing consumers with the latest in secure payments technology in a convenient prepaid card.
Focusing on the increasing demand for secure, convenient methods of payment for consumers, FIS is launching a new prepaid card targeted specifically to consumers who travel abroad. The FIS Travel EMV Card combines the latest in EMV chip technology and a traditional magnetic stripe, providing financial institutions with an instant-issue, low-cost product to offer to consumers. An alternative to traveling with cash, credit cards or traditional traveler's checks, the cards are safe, easy to use and accepted worldwide.
The FIS Travel EMV Card will simplify travel for U.S. consumers where EMV chip technology is used for card-based transactions. U.S.-issued credit and debit cards use magnetic stripe technology, which is not widely accepted abroad. The EMV chip-based cards have been adopted globally for their increased level of security. U.S. issuers are expected to move toward EMV cards in the coming years. The FIS Travel EMV Card provides financial institutions the ability to offer this preferred card immediately, enabling them to stay ahead of the competition.
"EMV chip technology is at the forefront of secure card-based transactions," said Brad Potter, senior vice president, FIS EFT Solutions. "While the payments industry continues to prepare for EMV technology over the next few years, cardholders who wish to travel abroad have an immediate need for EMV payment cards. The new FIS Travel EMV Card enables any financial institution in the U.S. to serve the needs of their customers quickly and for an extremely low cost."