American Express to Add EMV Support in U.S.
American Express will start issuing EMV-compliant American Express-branded credit and charge cards to U.S. cardholders starting at the end the year and will require its processors to support EMV chip-based contact, contactless, and mobile transactions by April 2013.
Until the announcement, American Express had resisted issuing EMV-based cards, which put its cardholders at a disadvantage in many regions outside the U.S., where chip-and-PIN and chip-and-Signature cards are commonplace.
Last year, Visa and Mastercard announced their separate strategies for issuing EMV-compliant cards in the U.S. and there are now over a dozen issuers of such cards in the U.S. at this time.
“As a global payments network, we understand the benefits associated with EMV-based technology, and we are committed to continue enhancing security at the point-of-sale for both merchants and American Express Cardmembers,” said Suzan Kereere, senior vice president, American Express Global Network Business.
(Pictured: Gold EMV Chip)