Walmart to Launch EMV-Enabled Credit Card
Shoppers who use the Walmart credit card will be able to enjoy enhanced security as the store rolls out its chip-and-PIN credit cards. This is part of a significant and widespread movement in the United States projected to be completed in October 2015.
Walmart is not the first retailer to use EMV technology in its credit cards. The first major retailer to do this was Walmart’s sister company, Sam’s Club, which issued a chip-enabled MasterCard in June.
Walmart has been a long-term advocate for chip-enabled credit cards in the United States. The store started installing EMV-capable terminals at its checkout counters eight years ago, before this technology was very well known. These EMV-capable terminals are currently operating in more than 4,600 Walmart stores across the United States, and the company hopes to implement the terminal technology in its remaining stores by the end of the year.
The new EMV credit cards from Walmart offer a cash back program, where customers earn $5 for every $500 they spend. The card also takes 5 cents off the price of every gallon of gas consumers purchase from Walmart gas stations, or 15 cents for every gallon of gas they buy during the “Great Gas Rollback” promotion, which usually takes place throughout the summer.