Citi Bank announces plans for EMV offering

Citi Bank announces plans for EMV offering
Tags: Debit / Credit, EMV, Security, Trends / Statistics
July 18, 2011

Finextra reports that Citi Bank has confirmed it will roll out EMV chip cards for customers traveling abroad.

"Later this year, Citi plans to introduce the Citi Executive/AAdvantage card with EMV chip card functionality to provide card members with the ability to use a technology that is increasingly important when making credit card purchases abroad," the bank said in a statement.

In the U.S., the continued reliance on mag-stripe cards is not only an inconvenience for international travelers, it is also a security issue for European banks and consumers as illustrated by the cross-continental skimming ring arrests made earlier this month.