Credit Land Card Review: U.S. Bank Introduces Dual... - Other News

Advertising Disclosure

Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Other » Credit Land Card Review: U.S. Bank Introduces Dual Interface Card

Credit Land Card Review: U.S. Bank Introduces Dual Interface Card

Add to Favorites:
Credit Land Card Review: U.S. Bank Introduces Dual Interface Card

Traveling for Americans just got a whole lot easier – U.S. Bank is the first credit card issuer to launch a new credit card that will be accepted wherever you happen to be in the World, thanks to embedded EMV chip technology. EMV stands for Europay, Mastercard, and Visa.

Every year, one of the top complaints of Americans traveling abroad is difficulty using their credit cards. This is due to magnetic strip technology, which is no longer accepted in much of Europe. The new EMV card will feature multiple payment processing channels, such as Visa payWave, EMV chip, and magnetic stripe.

The Magnetic Stripe Problem

Other countries have already been making the transition towards cards with embedded microchips. Common sense tells us that it’s important for Americans to catch up; considering that traveling around foreign countries with a magnetic stripe credit card is more vulnerable to fraudulent charges than ever before. Although card issuers in the US have created various contactless payments options, they are still not up to EMV chip standards. Therefore, abroad travelers often find themselves in many frustrating situations, where European merchants refuse to accept their credit cards.

The New Card

U.S. Bank is set to launch the first dual interface EMV card, called the U.S. Bank FlexPerks Travel Rewards Visa. The card will feature multiple payment processing channels. This should make payment faster and smoother all over the world.

In June, over 20,000 of U.S. Bank’s FlexPerks Visa cardholders will receive the new card, as stated in company’s press release. The issuer plans to expand the card in 2012 to other travel rewards card members.

One of the main differences of the card is cardholders enter a pin code in order to complete a transaction, rather than signing for it, which is pretty similar to a debit card. The information contained in magnetic stripes cards, however, is what makes them more vulnerable to fraud.

Further Microchip Plans

U.S. Bank isn’t alone in their plans to get American credit cards up to par with other countries. Wells Fargo and JPMorgan Chase are both in the market for EMV chip technology. Wells Fargo conducted a trial study, in which 15,000 American customers known for international travel received cards with the embedded chips. JPMorgan Chase is also offering cards with the new technology exclusively to its high-end customers this month.

Add to Favorites:

Related News:

Interest in Mobile Payments on the Rise

Posted: June 23, 2017

Consumer interest in using connected devices outfitted with payment technology is growing in a market where voice-controlled assistants and wearable devices are becoming part of the cultural landscape, according to a new study by Visa. Continue reading
Citi and ExxonMobil Add New Features to SpeedPass

Posted: June 22, 2017

With the new upgrades made to the ExxonMobil Speedpass mobile payment app by Citi Retail Services and ExxonMobil, people can now apply directly through the app for the ExxonMobil Smart Card credit card. People who apply for the card ... Continue reading
More People Paying with Mobile Devices

Posted: June 21, 2017

Mobile and person-to-person payments are gaining traction with consumers, according to a new study by Fiserv, a financial services tech company. They also found that the number of people using digital wallets is slowly growing too. Why? ... Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
We'll match all the Miles you've earned at the end of your first year. Bonus Miles - For example, if you earn 30,000 Miles, you get 60,000 Miles.
For Excellent, Good Credit
You could turn $200 into $400 with Cashback Match™. Get a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year, automatically.
For Excellent, Good Credit
No Annual Fee
For Bad Credit