WaveCrest, a digital payment solutions provider, has added EMV security to its line of prepaid debit cards in the US.
The newly introduced prepaid debit cards, including MyChoice Preferred and MyFare cards, will have chip and signature added to enable secured payments.
MyChoice Preferred card allows businesses to reorganise commission, business, incentives, travel payments and control expenditures.
MyFare card enables taxi and limousine fleet owners to pay the drivers in a secure way.
WaveCrest chief revenue officer Miles Paschini said: “We continually strive to add new products and services to meet the changing needs of the markets we serve.
“And as customers rightly demand ever more secure payments and more merchants accept EMV payments, we are responding to this with the launch of our chip-enabled prepaid debit cards.”
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According to The US Payments Forum report, 55% of spending is on chip cards, while 96% of the top 200 merchants are accepting chip payments. In addition, 70 to 80% of small- and medium-sized businesses are chip-enabled.