EMV chip cards, the more secure cards with data-encrypting chips are the latest major innovation in the card payments industry. Card issuers and banks continue to do their part to ensure that every customer has these cards. Retailers on their part are in a rush to deploy new point-of-sale terminals that support them. With this
In August of 2011, Visa made the announcement that it was moving toward EMV contact and contactless chip technology in the U.S. The first milestone, effective on October 1, 2012, involved Visa expanding its Technology Innovation Program (TIP) to merchants in the U.S. The deadline for the EMV liability shift was set for the beginning
This past October, Bank of America (BofA) took the lead on issuing Europay-MasterCard-Visa (EMV) chip enabled cards. This makes Bank of America, the first major banking institution to take this step. As cards expire, new cards with the EMV chip will be sent to bank customers. This is an attempt by Bank of America to
