Bank of America Merrill Lynch, a leader in card services for middle-market, large corporate and public sector clients, announced that it is expanding chip and PIN technology to all purchasing and travel credit card products available to clients in the United States. BOA Merrill introduced chip and PIN technology to corporate travel and expense (T&E) in Europe in 2010 and in the US in 2012.
“We’re committed to providing the most technologically advanced solutions, which our clients increasingly need to improve efficiencies while adding another layer of security,” said Kevin Phalen, head of Global Card and Comprehensive Payables in Global Transaction Services (GTS).
The bank began issuing chip-enabled purchasing cards in 2013. Together with T&E cards, more than 100,000 chip and PIN cards across the portfolio have been issued to clients in the United States alone. That number will grow as all newly issued credit cards for middle-market and large corporate clients will feature EMV technology.
“As our clients’ employees travel abroad, they are increasingly finding chip technology to be critical to a smooth experience,” said Dub Newman, head of GTS, North America. 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.”
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