FORT WORTH, Texas – American Airlines FCU has become one of the first credit unions to offer EMV (Europay, MasterCard and Visa) Travel Prepaid Cards, incorporating both EMV chip-and-PIN technology and the standard magnetic stripe.
The card product is specifically designed for members who are working, traveling, living or studying in Canada, Europe, and other regions of the world where EMV Chip Card technology is the preferred method of payment.
The card features an embedded microchip that aids in reducing the chances of unexpected transactional inconveniences, such as transactions being denied or rejected because of lack of merchant training; the use of chip-only unattended subway and vending terminals; and, the fact that some overseas merchants do not want to accept the magnetic stripe cards because of risk.
The credit union said the new EMV Chip Card also allows a member to travel without having to obtain foreign currency prior to the trip. The card can be used to make purchases at millions of Visa debit locations worldwide and to obtain cash at any VISA ATM worldwide. The cards come with no monthly maintenance fee and will be available through a special website.