WalMart to Roll Out EMV Equipped Card
WalMart announced Monday that its WalMart MasterCard will begin carrying computer chips formatted to the EMV security standard.
“Walmart has long been a proponent for EMV chip technology and installed EMV-capable terminals in stores about eight years ago,” the company wrote in a blog announcement of the move. “These terminals are now activated in more than 4,600 stores, including all Sam’s Club locations. Terminals in the remaining U.S. stores will be activated before the end of the year.”
WalMart declined to say how many cards would carry the chip, but pointed out that all of its stores would eventually take the card.
The market leading retailer also reported the card will carry a set of rebates. Cardholders will enjoy $5 back on every $500 they spend. They will also save 5 cents per gallon of gas at participating Walmart gas stations and 15 cents during Walmart’s “Great Gas Rollback” promotion that is running now through Sept. 8.
Walmart’s announcement comes just as it appears many credit unions will miss an upcoming EMV liability deadline.