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As more and more U.S. credit card issuers jumping on the EMV chip card bandwagon, Chase Card Services, a division of JPMorgan Chase & Co., has added a third EMV chip card to its portfolio--but this time, it has the added benefit of earning airline rewards, a first for the burgeoning EMV chip card market in the U.S.

Chase has partnered with British Airways to offer a EMV chip-with-signature Visa Card. "The addition of EMV chip-with-signature to the British Airways Visa Card offers card members a higher level of convenience," says Naney Pandit, general manager, Chase Card Services, in a press release. "Since most of our card members frequently travel abroad, we want to provide them with benefits that make them feel right at home, no matter where they are. Card members can now use the British Airways Card at any chip-enabled, point-of-sale device, such as train ticket kiosk, restaurant or gas station."

The co-branded card does not levy foreign transaction fees. Additionally, the partnership with British Airways allows cardholders to earn Avios, British Airways' new Executive Club currency. For every dollar spent on a British Airways purchase, users earn 2.5 Avios. Other purchases are worth 1.25 Avios per dollar spent. Executive Club members can spend their Avios on future travel with British Airways and its oneworld alliance partners.

This card marks Chase's third offering in its American EMV chip card selection. Chase is one of at least nine institutions offering this technology to its customers, according to the Smart Card Alliance. As of August 2011, other adopters included The United Nations Federal Credit Union, the first to offer this technology, Wells Fargo, US Bank and Silicon Valley Bank, among others.

EMV stands for Europay, MasterCard and Visa and is the standard used in credit cards that contain embedded chips. EMV chips are the standard in many parts of the world because they offer higher security than the magnetic stripe, which is prevalent in the United States.

This year, EMV cards are starting to make inroads in America. While this first wave of EMV chip cards to hit the U.S. has been targeted toward international business travelers, it's expected that they will soon make their way into everyone's wallet.

Visa is encouraging the development and expansion of EMV chip technology in the U.S. In a bulletin released August, Visa announced that it wanted to speed up the transition to EMV chip technology, so it instituted a policy to shift counterfeit liability for domestic and cross-border counterfeit transactions. That means that if merchants don't accept chip cards at point of sale purchases, and counterfeit fraud occurs, the merchant acquirer will be held financially responsible. This policy also extends to card issuers.

Visa intends for this policy to take effect on October 1, 2015, but it gives the petroleum industry an additional two years to comply because upgrading its terminals presents additional challenges.

In September, MasterCard implemented its own liability shift policy that targets ATM owners. It will take effect much sooner than Visa's policy, requiring that ATMs become compliant by April 19, 2013.

As reported in American Banker, MasterCard is focusing on a different channel where fraud occurs, and its policy intends to transfer liability from the card issuer to the ATM owner.

These plans to foster EMV chip acceptance may make a dent in the amount of credit and debit fraud that occurs in the U.S. According to a Global Card Fraud report in industry trade publication The Nilson Report, 47 percent of global card fraud takes place in the U.S. In 2010, worldwide fraud losses totaled $7.60 billion.