| December 17, 2010

U.S. travelers receive new microchip card

Due to a technological gap between the U.S. and Europe, American travelers have recently been experiencing many troubles with credit cards across the Atlantic.

However, a new prepaid card from Travelex and MasterCard called the Cash Passport aims to alleviate some of this frustration.

By utilizing the microchip and PIN technology currently used by European credit cards, the Travelex card allows users perks such as the ability to withdraw money from ATMs, while providing additional purchase protection, NPR reports. In addition, the more funds put into the card, the better the exchange rate consumers can receive.

Leyla Farah, a social media specialist with HotelHostess.com, told the news source about the pitfalls of the old system. She cited the limited ability to acquire cash, and the inconvenience of carrying large quantities of it as reasons she is excited about the new card.

The Travelex card can also be used in American airports on the way to destinations, as it features both microchip and traditional magnetic strip technology.

It also allows users the ability to freeze funds in case a card is lost or stolen, meaning that it will likely become a staple among travelers making frequent trips to Europe.

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