Citi® Now Offering EMV Credit Cards to Corporations - Other News

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most 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 » Citi® Now Offering EMV Credit Cards to Corporations

Citi® Now Offering EMV Credit Cards to Corporations

Citi® Now Offering EMV Credit Cards to Corporations
The content is accurate at the time of publication and is subject to change.
This content is not provided by Citi. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by the Citi.

The acronym “EMV” stands for Europay, MasterCard and VISA, which is a global standard for integrated circuit cards. Credit cards possessing this technology can be recognized by the gold-toned chip found on the front. While America currently still favors credit and debit cards with the familiar magnetic “swipe” strip on the back, Europe as well as others have moved onto using “chip and PIN” cards. With well over one billion commercial and consumer chip card users outside the U. S., chip cards are the dominant technology worldwide. This means that travelers from the United States may encounter problems using their credit cards while going abroad.

Certain banks have decided to begin easing some of their American cardholders into the EMV payment system, such as Wells Fargo, Chase and U.S. Bank. Citigroup has just announced their launch of the Corporate Chip and PIN card, a compliant smart card designed especially for U.S. corporate cardholders who often travel overseas.

“Many of our clients are leading multinational organizations with cardholders that travel extensively. They require a payment product that can meet their needs wherever their business takes them and Citi is at the forefront of bringing this product innovation to our commercial card clients,” said Citi’s Julie Monaco, head of North America Global Transaction Services, in a press release.

The first EMV credit card released in America was the Citi® / AAdvantage® Executive World Elite Mastercard®, an international credit card recently made available to more affluent cardholders. Citi’s business cards will be next, although it will take a couple of years for EMV chip technology to reach the credit cards of the average American consumer.

According to Visa, EMV chip technology makes mobile payment data less attractive for would-be thieves, and is “an important security layer and a critical step” toward smartphone credit card security, so reports an article on mobiledia.com.

Someday in the future, it will no longer be necessary for a customer to sign a credit card receipt to verify a purchase if a merchant’s machine can read the chip, Visa boldly predicts.

“There is no security silver bullet. But, for smartcards and smartphones, using EMV adds a strong layer for payment transaction security as well as online banking, access to medical records and more,” said George Peabody, director at Emerging Technologies Advisory Service, to mobiledia.com. “This is a welcome step toward lowering fraud at the point of sale and online. It’s time.”

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

Free Credit Report from Capital One for Businesses
Free Credit Report from Capital One for Businesses

Posted: February 22, 2019

While consumers are entitled to get a copy of their credit report for free, if you are a business owner that is not the case, but Capital One has launched CreditWise, a new service that lets business get their credit report for free…. Continue reading

New Vendor Payment option from American Express and Bill.com
New Vendor Payment option from American Express and Bill.com

Posted: February 21, 2019

American Express and Bill.com have teamed up to roll out American Express Vendor Pay, a platform letting businesses make payments using their already existing American Express Corporate or American Express Business credit card. Vendor Pay… Continue reading

Get a 100,000 Bonus Points with the New Marriott Bonvoy Amex Cards
Get a 100,000 Bonus Points with the New Marriott Bonvoy Amex Cards

Posted: February 18, 2019

The new Marriott Bonvoy Amex cards are out and now new cardholders are eligible to get 100,000 bonus points. All they have to do to get the bonus points is spend $5000 with their new card within 90 days of getting it. The bonus is… Continue reading

Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, each time you activate.
For Excellent, Good Credit
INTRO OFFER: Discover will match ALL the Miles you've earned at the end of your first year, automatically. For example, if you earn 30,000 Miles, you get 60,000 Miles. That's $600 towards travel!
For Excellent, Good Credit
Earn unlimited 1.5% cash back on every purchase, every day
For Average, Fair, Limited Credit
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!