MasterCard Involved in Promoting EMV
- MasterCard is committed to building a workgroup to bring together all professionals involved in the payment industry, including terminals and cards manufacturers, retailers and acquirers. Their aim is to succeed in implementing the EMV standard in the United States.
- The workgroup will initially attempt to find solutions in three areas: the need to inform people and manage customer experience, the creation of EMV guidelines and the creation of the necessary frameworks to encourage experience and knowledge sharing.
- The Smart Card Alliance and TSYS are already registered as partners. MasterCard is keen to promote the advantages of smart cards in particular for security.
Source: Press release
- For over 15 years, MasterCard has been involved in developing and promoting the EMV standard across the world and in the United States. What is at stake for MasterCard is its desire to become the smart card specialist on the American market which until now has been broadly dominated by the magnetic stripes.
- The group already prepared the ground for the promotion of the EMV standard back in January when it presented plans to push the United States towards greater involvement in new generation electronic payments. The first step for the group will be to define the basic elements of the EMV technology in the United States.