Sam’s Club Lead Way With New Smartchip Credit Card

The cards are more difficult to duplicate

   

Sam’s Club Lead Way With New Smartchip Credit Card

On Wednesday, Walmart’s (WMT) Sam’s Club will announce a new credit card featuring EMV chip technology, making the card more secure against hackers.

sams club 300x300 Sam’s Club Lead Way With New Smartchip Credit Card
Source: Wikipedia

Sam’s Club will become the first major U.S. retailer to adopt EMV chip technology in its credit cards. The smartcard contains a computer chip that makes it harder for hackers to copy it. Smartcard technology is already widely used in Europe, but has encountered resistance from American retailers. Card-swiping terminals at Walmart and Sam’s Club stores have had the capability to process smartcards for a number of years, the New York Times notes.

The new Sam’s Club MasterCard will launch on June 23. The card will be issued by GE Capital Retail Bank. The Sam’s Club MasterCard follows the massive credit and debit card data breach at Target (TGT) late last year. Sam’s Club indicated that its move to smartcard technology predated the TGT breach.

WMT stock rose slightly in Wednesday morning trading. On Tuesday, WMT stock closed at $76.71 per share.

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Article printed from InvestorPlace Media, http://investorplace.com/2014/06/sams-club-lead-way-new-smartchip-credit-card/.

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