Updated with comments from Chase
Chase Card Services, a division of JPMorgan Chase & Co., announced it will issue a credit card with EMV chip technology.
Chase will first unveil chip-and-signature on the JPMorgan Palladium credit card in June, a card serving customers who frequently travel abroad, and to other Chase credit cards within the year.
The new Chase cards will feature both an embedded encrypted chip and traditional magnetic strip to accommodate merchants in the United States.
Chip technology is the standard in Europe and has completely replaced magnetic strips, so cards with chip-and-signature technology offer more streamlined credit card purchases while traveling in Europe.
Wells Fargo announced an EMV pilot and two credit unions in the U.S. are also issuing EMV cards.
Update: Chase is targeting the card for members who travel frequently overseas, says Laura Rossi, a spokesperson at the company. Current Chase cardholders won’t necessarily receive the cards unless they travel to areas where EMV is used.
“At this point we want to offer our cardholders a hassle free experience in Europe,” Rossi says.