MBNA launches Ireland’s first 'chip' credit cards

MBNA Ireland, part of MBNA Corporation, the world’s largest independent credit card issuer, has introduced the country’s first "chip" cards, as part of the Europe-wide move away from magnetic stripe payment cards towards the more secure smart card technology.

Chip credit cards are being introduced across Europe as a measure to combat the increase in fraud losses and credit card crime. All issuers, acquirers and merchants are required to comply with the Visa and Mastercard migration to chip technology by 1 January 2005.