Sam’s Club launching credit card with chip-enabled security technology

Bentonville, Ark. -- Sam's Club announced it will launch a new credit card using EMV chip-enabled technology on June 23, beating Target as the first mass retailer to move to the new technology. The new card — co-branded with MasterCard Inc. and issued by GE Capital Retail Bank — has an embedded chip that makes the card more difficult to duplicate, which provides enhanced security from fraudulent activity, according to Sam’s Club.



Target Corp. announced in the spring that it was speeding up its transition to chip-and-PIN technology, and plans to be finished with the transition by early next year.



Customers must be Sam’s Club members to apply for the card, but it can be used anywhere MasterCard is accepted.



“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, president North America, MasterCard. “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.”



The new card also has a cash back program whereby members can to earn 5% cash back on fuel, 3% cash back on dining and travel, and 1% cash back on all other purchases, up to $5,000 annually.



“The 5-3-1 Sam’s Club program and co-branded MasterCard mean industry-leading savings and security innovation for today’s consumer,” said Rosalind Brewer, president and CEO of Sam’s Club. “Under the 5-3-1 cash back program, Sam’s Club members can earn up to $5,000 cash back annually.”