The bank said, initially, it will adopt the new chip-and-signature, the EMV chip technology, on JPMorgan Palladium credit card, a card that serves customers who frequently travel abroad, and later to other Chase credit cards within the year.
According to the bank , the cards with chip-and-signature technology will feature both an embedded encrypted chip and traditional magnetic strip to accommodate merchants in the US.
Chase Card Services general manager David Porter said that the addition of chip-and-signature technology enables Chase cardmembers to enjoy simplified transactions in Europe, such as seamlessly using point-of-sale kiosks and train ticket turnstiles the same way the locals can, with the added piece-of-mind of secure transactions.
"Although chip-enabled terminals are fairly uncommon in the US where the vast majority of merchants only support magnetic strip cards, our focus is to provide chip-and-signature cards to our cardmembers who frequently travel outside the United States," Porter said.
Chase added that its cards with chip-and-signature technology can be used everywhere traditional magnetic strip cards are accepted in the US and in more than 130 countries abroad where chip technology is implemented.
