FIS launches prepaid Travel EMV Card

EMV chip and traditional magnetic stripe technology combined

FIS claims its new prepaid card is a “first of its kind offering” (view press release). The solution combines EMV chip with traditional magnetic stripe technology and enables financial institutions to offer US travellers an instant issue, low cost, globally accepted alternative to travel cash, credit cards and travellers checks. The solution is designed to benefit Americans travelling abroad where mag stripe cards used in the US are not compatible with EMV infrastructure in many countries such as in Europe. Spearheaded by Visa and MasterCard, the US is currently in the process of migrating from mag strip to EMV over the coming years.

EMV chip technology is at the forefront of secure card-based transactions,” said senior vice president of FIS EFT Solutions Brad Potter. “While the (US) payments industry continues to prepare for EMV technology over the next few years, cardholders who wish to travel abroad have an immediate need for EMV payment cards. The new FIS Travel EMV Card enables any financial institution in the US to serve the needs of their customers quickly and at low cost.” 

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