Travelex Currency Services Inc., one of the few companies that offers U.S. residents cards that adhere to the EMV Integrated Circuit Card Specifications, has begun selling the cards online.
EMV cards include a chip that improves security for point of sale transactions. Though the U.S. has not widely adopted the standard, many countries have, and this has presented problems for travelers attempting to use magnetic stripe cards issued in the U.S. in those countries.
Travelex said Wednesday that its customers can choose to have an EMV prepaid card delivered by mail or held in a store for pickup.
Travelex's online price promise guarantees that online purchasers will pay the lowest amount for the foreign currency loaded to the prepaid account and offers to refund the difference if, within 14 days, the customer locates a price that is lower than the one listed on the day the card was purchased.
Travelex began offering EMV prepaid cards to U.S. residents in December, and since then, "we've had outstanding feedback from our customers on the" product, Jon Dario, president of Travelex Currency Services, the U.S. unit of Travelex Holdings Ltd., said in a press release. "It is smart for American travelers to have the same level of technical compatibility that many other international travelers currently enjoy."
In the months following the launch of Travelex's card, two major banks, Wells Fargo & Co. and JPMorgan Chase & Co., announced plans to offer EMV cards to U.S. customers who travel internationally.
