EMV Migration is gaining momentum in the US. After Visa’s EMV Migration announcement back in August 2011 and January 2012, MasterCard has now rolled out its migration roadmap from magnetic stripe to EMV chip card technology.
MasterCard is planning to deliver an improved customer experience in-store, online, at ATMs and on mobiles giving consumers greater security and control of their payment choices. They will do this by helping to build out the EMV POS infrastructure by April 2013. The roadmap also envisages reduced fraudulent transactions, and financial benefits to merchants using EMV compatible terminals.
Chris McWilton, President, U.S. Markets, MasterCard explained, “We’re moving toward a world beyond plastic, where consumers will shop and pay in a way that best fits their needs and lifestyles with a simple tap, click or touch in-store, online or on a mobile device”. He continues “Our roadmap represents a transformational shift in the approach to payments and is not simply about EMV, chip and PIN. We’re focused on readying the ecosystem to drive future innovation and provide new consumer experiences to enhance the value of electronic payments. “
MasterCard is part of the original group that created the global EMV standard for credit and debit cards based on chip card technology which included Europay, MasterCard and Visa. It is now owned by American Express, JCB, MasterCard and Visa. Click here for the latest EMV deployment and adoption figures.
If you are a terminal manufacturer and want to find out more how you can reduce risk, cost and time to market of your EMV Migration project, call us for free on 800.868. 1832 or email enquiries(at)level2kernel(dot)com.Tags: EMV, US EMV