Compliance: SVB Selects Gemalto and Opts for EMV Chips
- California-based Silicon Valley Bank (SVB) selected Gemalto to be provided with EMV compliant cards and intends to propose them to all its customers. This offer will first apply to customers who travel the most (SVB MasterCard World Elite portfolio). The issuing services will include design, production and customisation of the cards, as well as secure management of the data, etc.
- The cards will also display a magnetic stripe to ensure their acceptance with all MasterCard merchants.
- More and more players now opt for EMV in the US. The U.S. Bank, Visa and Oberthur Technologies, conjointly announced they would issue new cards combining Visa PayWave, an EMV chip and a magnetic stripe. These cards are being proposed starting this month to Visa FlexPerks Travel Rewards cardholders. Meanwhile, JPMorgan Chase & Co division Chase Card Services also decided to add an EMV chip to another card: the JP Morgan Select Visa Signature (the first initiative regarding this standard dates back from April). In addition to the security perspective, these offers are designed for customers who have to face difficulties when paying abroad.