Seeking Alpha

Sam's Club to make move to chip-embedded credit cards

  • Sam's Club (WMT) plans to introduce a new credit card which will feature an embedded chip for security instead of a magnetic strip.
  • The chip technology, known as EMV, is considered a more secure form of payment processing and is used broadly in Europe and Asia.
  • Sam's will be the first large retail store chain in the U.S. to make the EMV move.
  • The credit card will be co-branded between Sam's and MasterCard (MA).
Comments (2)
  • kahokfan99
    , contributor
    Comments (89) | Send Message
    I've read that Target was already in the process of switching to chip technology. Is Wally World really the first U S company or is this just Walton PR
    4 Jun 2014, 09:13 AM Reply Like
    , contributor
    Comments (3) | Send Message
    Target I think is starting next year. Apparently Sam's beat them by a little
    4 Jun 2014, 10:02 AM Reply Like
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