Travelex Introduces Microchip Card for Travelers

by Mercator Advisory Group 0

As European countries completing their migration to EMV cards, more and more U.S. travelers find it getting difficult to have dinner at restaurants or buy tickets to museums across the continent. Travelex is taking the opportunity to grow its prepaid card business by planning to offer an EMV prepaid card to U.S. consumers.

“Early next year, Travelex will begin selling prepaid cards that store travelers’ payment data with microchips rather than the traditional magnetic strip, making purchases overseas far easier to complete when using a card.”

It makes people wonder when U.S. banks will follow suit and start to incorporate chips to their premium cards whose cardholders are more likely to travel overseas and face the same difficulty.

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