American Express Company (NYSE: AXP), a global leader in corporate card issuance, today announced that the Company will begin issuing Corporate Cards with chip & signature technology to U.S. Corporate Cardmembers, beginning with the premium Card portfolios in the first half of 2013. U.S. Corporate Cardmembers will now be able to experience a seamless international payments process as EMV technology becomes the standard for authorizing transactions around the world. Cardmembers with chip & signature Cards will be able to use their Cards wherever American Express® Cards are accepted, in the United States and internationally.
"As we continue to enhance our global footprint, our priority is to ensure our Cardmembers have superior security features and the full complement of American Express benefits when using our products internationally. Our EMV technology adds another layer of protection so that our Cardmembers know they are further safeguarded from fraud and can leverage the flexibility that chip & signature provides across the globe," said Darryl Brown, President, Global Corporate Payments Americas, American Express.
The new chip & signature Cards offer an extra level of transaction security by employing dynamic encryption technology, which makes it more difficult for unauthorized users to copy or access Card information. American Express currently offers chip & PIN and chip & signature Card capabilities throughout their global markets. American Express allows merchants and Card-issuing partners to adopt the EMV solution that best meets their individual market needs.
"In some countries, chip technology is becoming standard for card authorizations. By providing a chip-enabled solution, the new chip & signature Cards will help U.S. Corporate Cardmembers avoid disruptions while traveling internationally," added Brown.
About American Express Corporate Payment Solutions
American Express Corporate Payment Solutions provides the Corporate Card, Corporate Purchasing Solutions, and other expense management services to mid-size companies and large corporations worldwide. In the U.S., American Express is a leading issuer of commercial cards, serving more than 70% of the Fortune 500, as well as tens of thousands of mid-size companies. For more information, visit www.americanexpress.com/corporate.