One way that some credit card firms work to protect data is by inserting chip technology into plastic card products.
Chase recently teamed up with British Airways to roll out new credit cards with smart chip technology aimed at consumers who make a habit of going overseas. Because the United States is one of the few first-world countries that still relies on the swiping method[ instead of near field communications technology, many frequent travelers have been running into troubles due to the differences in the merchant services transactions, according to the leadership of the firm.
Chase general manager Naney Pandit said that the problem was becoming an ever bigger issue than in years past.
“What used to be a trickle a few years ago has become a frequent point of irritation,” she said in an interview with Reuters.
In anther recent interview, the head of Chase’s credit card unit, Gordon Smith, said that it was promoting other cards as well. The former executive at American Express said that the firm was targeting higher-end customers with its Sapphire card.Back To Blog