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:

USTA Welcomes Bill to Expand TSA PreCheck Enrollment
USTA Welcomes Bill to Expand TSA PreCheck Enrollment

Posted: May 23, 2019

The TSA PreCheck program that allows pre-cleared air travelers to pass through airport security more quickly could be expanded if new legislation is passed. Continue reading

Credit Card Borrowing is Up among Millennials
Credit Card Borrowing is Up among Millennials

Posted: May 20, 2019

In the past millennials had fewer credit cards in their collective wallets, but things are changing according to the Federal Reserve Bank of New York’s Liberty Street Economics Blog, with over half of people in their 20’s carrying a credit… Continue reading

Three New Credit Cards from Sallie Mae
Three New Credit Cards from Sallie Mae

Posted: May 16, 2019

When people hear or read the name Sallie Mae more than likely they think about student loans because the company has been in that industry for years, but now they are looking to expand their reach and moving into the credit card business…. Continue reading

Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Introducing the New Citi Rewards+ Card - the only credit card that automatically rounds up to the nearest 10 points on every purchase - with no cap
For Excellent, Good Credit
Enjoy 70,000 bonus miles after spending $5,000 on purchases in the first 90 days
For Good/Excellent Credit
See Rates & Fees
Perfect credit not required for approval; we may approve you when others won’t
For Fair/Bad 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!