|Photo by Thomas Kohler|
At the end of last week, columnist Ed Perkins of USA TODAY that Wells Fargo and Chase Bank would be issuing premium chip-and-pin cards in a few test markets. Why they need to "test market" a technology that's widely used across the globe is a mystery to me, but I agree with Ed that these two banks are likely just the first of many who will adopt the new technology in the coming months.
If you're a frequent traveler, nudge your bank to join Wells Fargo and Chase. Not only will the card allow you wider access to your money when traveling abroad, but the banks themselves will have fewer claims of fraud to contend with once the new cards are adopted.
Hey, its a win-win for all of us. And how often is something that's good for the banks also good for consumers?!?