American Express is to roll out chip and PIN
services for Canadian merchants and cardholders through deals
forged with payment processing providers Chase Paymentech, Global
Payments and Moneris Solutions.
American Express said that it has readied its
systems in anticipation of the transition to chip and PIN
technology after participating in multilateral industry efforts for
the migration over the last few years.
“American Express has made significant
investments to ensure that our Canadian network is ready for Chip
technology,” said Howard Grosfield, president and CEO, Amex Bank of
Canada.
“Many merchants and processors have already
upgraded to Chip & PIN for American Express and our
cardholders from international markets are using Chip &
PIN at thousands of merchant locations across Canada today.”
In a bid to create a smooth transition to the
technology, American Express cards with magnetic stripes will
continue to be accepted across Canada.
