Sam's Club to offer credit card with microchip
Sam's Club says it will become the first mass retailer in the U.S. to offer a credit card using a fraud-deterring microchip.
The warehouse club, owned by Wal-Mart Stores Inc., says the card will be co-branded with MasterCard and will be available this month.
Visa and MasterCard are pushing for the adoption of credit cards that use microchips rather than the black magnetic strips found on most cards. The card processors say microchips have helped reduce fraud elsewhere, including in Canada, Mexico and Western Europe.
After a massive data breach last year, Target Corp. said it would accelerate the rollout of a chip-based credit card, with new payment terminals appearing by September. It had said it planned to be the first major U.S. retailer with its own chip-based card.
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