Bank of America Merrill Lynch is expanding its chip and pin technology to all purchasing and travel credit card products available to travellers in the US.
The announcement is the latest development in the country’s ongoing effort to rollout EuroPay Mastercard Visa (EMV) technology to its global client base.
The company first introduced chip and pin technology on corporate travel and expense (T&E) credit cards in Europe in 2010 and in the United States in 2012, and chip-enabled purchasing cards in 2013.
BoA Merrill said more than 100,000 chip and PIN cards across the portfolio have been issued to clients in the United States, and expects that number to grow as all newly issued credit cards for middle-market and large corporate clients will feature EMV technology.
BoA’s Head of Global Transaction Service for North America, Kevin Phalen, said: “While EMV technology is widely adopted across Europe and other regions, it has only recently received traction in the United States.
“We anticipate the demand for EMV will continue to grow in the U.S. and our decision to expand the technology today will position our clients to stay ahead of the curve.”