Credit Unions Planning to Offer EMV-Enabled Prepaid Cards to Travelers

by Mercator Advisory Group 0

PSCU, a credit union service organization has announced that more than a dozen credit unions will use its processing services to offer prepaid cards with EMV chips to travelers who are going abroad.

From Credit Union Times:

The chip cards, equipped with the so-called EMV technology, have become the industry standard in Europe, Canada and parts of Asia and will be offered to members traveling to those regions. The cards will also carry a magnetic stripe to enable their use in the United States, the processor said.

While EMV cards will eventually come to the United States, right now magnetic stripe readers and cards dominate the market. This means that U.S. travelers sometimes have a hard time using their cards when travelling outside of the country. PCSU’s move will introduce its customers to the cards and likely make the future transition more intuitive.

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