Of Special Interest

7th February 2012

US issues millionth EMV Visa card

Visa Inc. reported that US banks had issued 1m EMV (chip) Visa cards in the period up until the end of December 2011. The first US cards were issued 18 months ago and have to date mainly targeted the US traveller who increasingly found they could not use their magnetic stripe cards in many part of the world, most notably in Europe. More recently MasterCard decided to follow and also move over to EMV card issue in the US.

The two card organisations are insisting they have no plans to force US customers to adopt the use of a PIN as is required by customers in Europe. They state that that EMV is valid as an identifier and can be used with signature or even retaining a 'no signature required' account. There is now momentum towards migrating users who don't travel. Visa is stressing the services it can offer merchants including validation of the one time code generated by the card upon each use.