PNC Bank and Huntington Bank are reportedly planning to launch more secure credit and debit cards equipped with EMV chip, as part of their plans to avoid Target-like breaches, in which data of nearly110 million consumers data was compromised.
EMV – which stands for Europay, MasterCard and Visa – is considered to be the safest online payment technology.
It is believed that PNC will launch ATM, credit and debit cards fitted with sophisticated computer chips over the next nine months, as reported by cleveland.com.
PNC Bank spokeswoman Marcey Zwiebel was quoted by the publication as saying, "We’re making significant investments in technology, including EMV capabilities, this year and next across all our products and services."
"This includes adding EMV functions by early next year to our ATM network, merchant services, credit and debit cards."
The Columbus-based Huntington Bank incorporated the EMV chip technology on its commercial credit cards in March and is planning to upgrade its consumer credit and debit cards in the near future.