Bank of America Merrill Lynch says it will make the first of three changes to its debit card product line to reduce the risk of fraud.
The bank says the changes will begin in March, with the first major change being a new chip that will allow cards to be used at retailers and ATMs that accept debit cards.
The change is the first step in a series of chip and PIN upgrade opportunities, which it expects to offer by the end of the year.
Bank of the United States Merrill Lynch said in a statement that it has invested in chip and pin technology that has the potential to reduce fraud by up to 80% for debit cards in its customers’ wallets.
Chip and PIN, or chip and signatures, are an increasingly popular solution to prevent fraud.
Chip technology is based on the technology used in the iPhone and Android phones.
The chip is made up of a combination of small amounts of DNA, which can be read by the chip, and the letters that make up a number.
If someone uses the chip in the right way, they can unlock a card.
Chip cards are designed to be easily unlocked, which makes them particularly attractive for consumers who often use their cards for large purchases, like buying a new car or a new pair of shoes.
The chip and signature method, which is also called chip and swipe, was first introduced in 2014 as a way to prevent counterfeiting of credit cards.