PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

Chase to reissue debit cards with microchips

Sarah Grotta by Sarah Grotta
April 15, 2015
in Analysts Coverage
0
debit cards
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

Debit cards have been revolutionizing the way we pay for goods, services and more since their invention. Most debit cards are outfitted with chip technology, one of the most secure methods for verifying payment and protecting users from unfortunate fraud or theft incidents. With chip technology debit cards, it’s simple to quickly swipe or insert your card when checking out, freeing you up from having to carry around lots of cash.

Plus, chip technology makes it easy to get a record of where purchases were made for better financial tracking and management. From today’s sophisticated chip-enabled debit cards to the convenience of instantly withdrawing or transferring funds online or even in person from ATMs world wide; debit is truly an exceptional way to stay safe and secure when making payments.

Chase Bank has begun to issue debit cards with chip technology in Illinois which will be followed by a full national rollout. Chase now joins Bank of America and BMO Harris, two other large US financial institutions who have determined their debit EMV issuance strategies.

“Chase, which holds almost 25 percent of deposits in the Chicago area, said its rollout here will be followed nationally.
Other banks are slowly introducing chip cards. BMO Harris Bank, which holds 12 percent of deposits in the Chicago area, said it recently began issuing chip debit cards. Any new or replacement debit cards include chips, spokesman Patrick O’Herlihy said.
Bank of America, Chicago’s third-biggest bank by deposits, started adding the chips to its credit cards in 2012 and to consumer and small-business debit cards in October 2014. The chip cards are included on new accounts and to existing accounts when cards need to be replaced.”

Although this article, written for the general public, does not reveal how compliance with the Durbin Amendment is achieved, it certainly signals that banks are finding a solution they are willing to stand by and the EMV debit issuance has begun in earnest.


Overview by Sarah Grotta, Director, Debit Advisory Service at Mercator Advisory Group

Read the full story

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily

    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Mercator Advisory Group analysts and industry professionals.

    Must Reads

    faster payments

    Faster Payments Are Set to Revolutionize Modern Digital Payments

    January 26, 2023
    How AI can Help Manage Payments Risk in 2023

    How AI can Help Manage Payments Risk in 2023

    January 25, 2023
    cross-border payments

    How to Implement Effective and Innovative Cross-Border Payment Strategies

    January 24, 2023
    credit card experiences, digital payments, b2b payments

    Will Consumer-to-Business Payment Trends Drive B2B Global Growth in 2023?

    January 23, 2023
    Faster Payments Faster Identity Verification, connected car, payments

    2023 Predictions: Authentication, Digital Identity, and In-Car Payments

    January 20, 2023
    bank data

    Interconnectivity, Data Sharing, and Security Are Vital for Banks to Thrive

    January 19, 2023
    B2B Payments, cryptocurrency

    Crypto as a Practical Solution to B2B Payments

    January 18, 2023
    AR, accounts receivable

    Digitizing AR Would Address One of Executives’ Biggest Concerns About Economic Instability

    January 17, 2023

    • Advertise With Us
    • About Us
    • Terms of Use
    • Privacy Policy
    • Subscribe
    ADVERTISEMENT
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • News
    • Resources

    © 2022 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result

      Register to download the Brighterion eBook - The power of today’s market-ready AI to reduce transaction fraud