Silicon Valley Bank (SVB) announced yesterday that they will be offering the first chip-enabled to businesses in the U.S.  The SVB release claims that the World Elite™ MasterCard® for Business with EMV chip technology will give their clients “additional security and applications as well as easier card usage when traveling in Europe and Asia where Smart cards are standard.”

The SVB card employs both chip and magnetic stripe technology so that it can be used wherever MasterCard is accepted, which includes U.S. locations that do not currently accept chip-only cards.

This is a significant step towards EMV adoption by U.S. businesses, and shifts the conversation from “if” we will adopt the technology domestically, to “when.”  Click here for the full release from SVB.

Matt Rushing

Matt Rushing

My name is Matt Rushing and I joined the PaySimple team at the beginning of 2010. In 8th grade, a career test forecasted that I would go on to become a cheese maker, but that has yet to come to fruition. Until it does, I assume I’ll continue my career in Marketing. Having lived in Colorado for 75 percent of my life, I think I’m as close as it gets to “native” status. When I’m not at work, I enjoy golf, skiing, writing and spectator-sporting.

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