Wells Fargo, the fourth-largest US bank by assets, has begun issuing WellsOne commercial cards that comply with EMV specifications, and include an embedded microprocessor chip, along with a magnetic stripe.

The new card is also compliant with Europay, MasterCard and Visa and allows customers to use the cards at merchants that use EMV and PIN-based payments systems, as well as magnetic strip-based systems.

The decision has been taken against the backdrop of a slow US migration towards EMV technology.

Wells has also begun offering free 3-Domain Secure technology for online purchases made with the WellsOne commercial card. 3-D Secure is an XML-based protocol designed to be an additional security layer for online credit and debit card transactions.

It was developed by Visa with the intention of improving the security of internet payments and offered to customers as the ‘Verified by Visa’ service. The service has also been adopted by MasterCard SecureCode, authenticating the domains of the acquirer, the issuer and the network.

"This technology is targeted at mitigating fraud as it moves from the point of sale to online channels," Mary Mazzochi, Wells’ manager of commercial card products, said.

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