During this transition period, many consumers still don't have new chip-enabled
cards, and some merchants have not implemented new point-of-sale terminals or, for various reasons, are not yet asking customers to dip instead of swipe their cards.
City National Bank began distributing chip-enabled
cards to new and renewing commercial card clients earlier this month.
BMI Bank signed an agreement with Sinnad in May, authorising it to issue and manage the bank's chip-enabled
Diners Club credit cards, in addition to building up a system for monitoring risks related to electronic transactions.
Gulf Bank First to Complete Migration to EMV Chip-Enabled
MasterCard Debit Cards in Kuwait
The enhanced, full-functioning chip-enabled
debit card that can be instantly issued at TCF Bank branches, allows consumers to make purchases quickly and securely at payment terminals, while still providing the same convenient access to cash and purchases.
market to make the transition to chip-enabled
credit cards for the benefit of cardholders and merchants alike," said Chris McWilton, MasterCard's president for North America.
According to Commerce Bank, the chip-enabled
credit card includes elements that offer each transaction an additional layer of security for regular purchases in stores as well as those made at unattended terminals such as automated ticket dispensers commonly found in European train stations.
Earlier, BMI Bank and Sinnad entered into a deal in May 2011, under which Sinnad is permitted to issue as well as monitor the Bank s chip-enabled
credit cards along with managing risks associated with transactions.
Global Banking News-June 1, 2011--SVB claims it is first to offer chip-enabled
credit cards to US businesses(C)2011 ENPublishing - http://www.
The bank recently announced plans for a complete overhaul of its ATM/ debit cards by introducing chip-enabled
ATM cards for its customers.
A cardholder inserts his or her EMV chip-enabled
payment card into a smart card reader and enters his or her PIN.
NASDAQ: CBSH) subsidiary Commerce Bank is offering Visa Signature Credit Card containing the chip-enabled
Visa Signature Credit Card to its line of credit card products.