The US lender said credit cards with EMV technology are embedded with a microprocessor chip that encrypts and stores the account information.
Assuring the card holders, the bank said that consumers need not worry about the new technology, as they can continue their transaction as they would do today.
BofA consumer and small business products executive Susan Faulkner said the new chip-enabled cards will improve convenience and security of customers’ transactions when traveling abroad.
"We want our customers to have the best possible experience while making purchases with their credit cards anywhere in the world," Faulkner said.
The bank will include the chip technology in all newly issued Merrill Lynch credit cards, U.S. Trust Accolades, BankAmericard Travel Rewards, BankAmericard Privileges, and Virgin Atlantic travel credit cards.
It also will upgrade existing customers in these card programs who have been identified as international travelers.
The chip will also be equipped with an optional feature for which cardholders can request for the following credit card programs, such as BankAmericard Cash Rewards, BankAmericard Power Rewards, BankAmericard, AAA Members Rewards, NEA, Asiana Airlines, Alaska Airlines, Hawaiian Airlines, Royal Caribbean and Norwegian Cruise Lines.
Bank of America serves approximately 57 million consumer and small business relationships with nearly 5,700 retail banking offices and approximately 17,250 ATMs and award-winning online banking with 30 million active users.
