U.S. Bank has officially launched its global EMV commercial card, designed to offer U.S.-based corporate travelers greater convenience when traveling abroad.
The U.S. Bank global EMV card contains the magnetic stripe technology used in the United States, in addition to the EMV chip technology – with full chip-and-PIN capability – widely used in Canada, Europe and other geographies.
In July of last year, the bank started issuing a dual EMV chip and contactless payment card for retail customers with its FlexPerks Travel Rewards Visa Signature Credit Card. A few months later, the U.S. Bank said it would be launching a similar card for commercial travelers in 2012.
The global EMV card is available on both Visa and MasterCard platforms. It is offered as an optional component on most U.S. Bank commercial card lines and as a standard offering for the U.S. Bank Executive and Executive Platinum card.
Combining both technologies on one card ensures that purchases can be conveniently processed around the world – train stations, parking lots and other places where agents are not always available to process transactions. It also gives employers a way to introduce EMV technology to their cardholders.