Guest post submitted by charge.com
When we travel within the North America (U.S., Canada and Mexico) it is easier to use your credit card for hotels and other purchases. All credit cards have a magnetic-stripe that enables merchants to swipe your card and bill your account for the purchase. This is not the case for many other countries when you do some international traveling. The technology gap and restrictions imposed by the card issuer may not allow you to use your current card when you are out of the country.
Travel advocates such as the Automobile Association of America has introduced a new technology for credit cards called chip-enabled cards, also known as EMV cards (Europay, MasterCard and Visa), a global standard that can be easily used abroad. They still carry the magnetic-stripe. The new card is embedded with a microprocessor chip encrypts and stores account information making it easier to use, provide additional security and the merchant with additional information that are needed for international processing. The EMV embedded cards are easier for point of sale as well as ATM use. Acceptance of the technology by various international organizations such as Japan Credit Bureau and merger of certain credit card companies made the easy use of the chip-enabled cards.
——————————————————Guest post submitted by charge.com. Charge.com offers ecommerce merchant credit card processing services for business online and offline.