Sam's Club to introduce EMV credit card

One of the biggest talking points since the Target security breach has been the increased push to deploy EMV chip-and-PIN technology into credit cards. It was brought up when Target executives were brought in front of Congress, and last month the company announced that it has invested $100 million in upgrading its credit card terminals and launching a new company RED Card that uses a chip.

According to a press release, other organizations are also starting to get onboard. Sam's Club has announced that it plans to introduce a new Sam's Club MasterCard on June 23 that will feature chip-enabled technology. This will improve the security of the cards and make the company the first mass retailer to actively implement chip-enabled cards.

According to Chris McWilton, the president of MasterCard North America, the company has taken a strong stance on the need for the U.S. market to start adopting chip-enabled credit cards. This goes for consumers and businesses alike.

"This move by Sam's Club makes them a trailblazer in getting chip cards in the hands of businesses and consumers, and leading the push toward a safer and more secure customer experience," McWilton said in the report. "This will no doubt help drive chip-enabled technology forward here in the U.S. as it gains more traction."

There is a deadline of October 2015 for companies to be able to accept chip-enabled credit cards., However, that does not mean that every businesses needs to jump on the solution now: Instead, smaller companies may want to wait and watch as larger companies pave the way.

by Ty Hardison

Share this Post

Share to Facebook Share to Twitter Share to Google+ Share to LinkedIn More...

See Your Merchant
Interchange Rates