JPMorgan Chase was the first to introduce the first chip-and-PIN
card in the US – but now rival lender US Bank has taken the
competition for differentiation up a notch by launching the first
dual interface card in the country.
US Bank FlexPerks Travel Rewards Visa credit
card supports both the US-typical magnetic stripe technology as
well as an EMV-chip on Visa’s contactless payWave solution.
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It was introduced in cooperation with Oberthur
Technologies and will be distributed to more than 20,000 existing
US Bank FlexPerks Visa cardholders by the end of June.
The roll-out comes exactly at the same as
JPMorgan’s introduction of its first EMV-technology based
chip-and-PIN JPMorgan Palladium credit card.
Cliff Cook, chief marketing officer for US
Bank Retail Payment Solutions, said: “While we believe EMV is
important for our international travel cardholders, we are
committed to driving contactless mobile payments in the US.”
The service will be extended to other travel
rewards cards in the course of the year, the bank said.
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By GlobalData
