Sam's Club, Wal-Mart's membership-only retail warehouse operation, will issue proprietary credit cards that will carry an EMV chip for authentication beginning June 23, the company said.
The cards, which carry the MasterCard logo, are issued through an agent relationship with GE Capital Retail Bank. The retailer claimed that it is the first mass retailer to issue the chip-enabled cards but did not report how many cards are in its portfolio.
"MasterCard has taken a strong stance on the need for the U.S. market to make the transition to chip-enabled credit cards for the benefit of cardholders and merchants alike," said Chris McWilton, MasterCard's president for North America.
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"This move by Sam's Club makes them a trailblazer in getting chip cards in the hands of businesses and consumers and leading the push toward a safer and more secure customer experience. This will no doubt help drive chip-enabled technology forward here in the U.S. as it gains more traction," McWilton said.
"We have worked closely with Sam's Club to enhance the shopping experience for Sam's Club members, such as launching this 5-3-1 credit program," said Tom Quindlen, CEO of GE Capital Retail Finance's retail card platform.
"This new program provides enhanced rewards for co-branded cardholders, who can manage their account and shop in-club, online and on the go, with easy to use rewards and greater savings," Quindlen said.
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