US Bank's Chip and Signature EMV Card Also Does Contactless

by Mercator Advisory Group 0

US Bank is the latest U.S. issuer to release an EMV card for its traveling accountholders. The company’s FlexPerks Travel Rewards Visa® credit card is a true dual interface card with contact chip for EMV-based transactions at the POS as well as a Visa PayWave contactless interface for “tap and go” payments. Working with Oberthur, the financial institution plans to arm some 20,000 accountholders with the new cards by the end of July.

Visa’s strong recommendation to its larger issuers has been to opt for “chip and signature” EMV deployment as a more straightforward approach to putting EMV cards into consumer’s hands. US Bank has listened to that advice. The new card program does not require the accountholder to remember a PIN when making a contact EMV transaction.

“U.S. Bank is pleased to be the first issuer in the United States to provide dual interface EMV cards that can be conveniently used anywhere – whether it be a chip-card reader with a merchant overseas or a contactless payment terminal or magstripe reader here in the United States,” said Cliff Cook, chief marketing officer for U.S. Bank Retail Payment Solutions. “While we believe EMV is important for our international travel cardholders, we are committed to driving contactless mobile payments in the United States.”

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