WalMart announced Monday that its WalMart MasterCard will begin carrying computer chips formattedto the EMV security standard.
|“Walmart has long been a proponent for EMV chip technology and installed EMV-capable terminals instores about eight years ago,” the company wrote in a blogannouncement of the move. “These terminals are now activated inmore than 4,600 stores, including all Sam's Club locations.Terminals in the remaining U.S. stores will be activated before theend of the year.”
|WalMart declined to say how many cards would carry the chip, butpointed out that all of its stores would eventually take thecard.
|The market leading retailer also reported the card will carry aset of rebates. Cardholders will enjoy $5 back on every $500 theyspend. They will also save 5 cents per gallon of gas atparticipating 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.
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