Visa surpasses 1 million EMV cards

The world's largest processor of debit and credit card payments recently announced that it now has more than 1 million next-generation cards in circulation nationwide.

Visa recently said that it has helped various financial institutions in the U.S. to issue more than 1 million of its branded "chip and pin" credit cards (also known as EMV cards) as of the end of last year. The bank had previously stated a goal of accelerating the process of issuing these cards, which store user payment data on a microchip instead of a magnetic strip.

This milestone is significant for the company because, just 18 months earlier, there were no EMV cards carrying the Visa brand in the U.S., though they were quite common in many of the world's other major countries.

EMV cards are designed to be far more secure than their magnetic stripe cousins, but consumers should also order copies of their credit report to further protect their finances. If they notice any problematic entries, they should work with a credit repair company to eliminate the questionable information.