MasterCard forms EMV cross-industry group in US
In introducing its roadmap in January 2012, MasterCard emphasized the need for the payments ecosystem to be aligned regarding the implementation of EMV standards in the US. Additionally, MasterCard introduced the need for securing all channels, including the ATM.
In support of a successful shift to EMV, a cross-industry group would focus on several key areas, including, but not limited to:
- Providing guidance on non-proprietary technical issues and standardizing the consumer experience,
- Creating a set of common terms, descriptions and guidelines for EMV-enabled cards, devices and terminals,
- Sharing and implementing best practices to simplify the implementation and consumer education processes.
Chris McWilton, president, US Markets, MasterCard, said: “Industry collaboration has proven to be critical to the successful migration to EMV in other parts of the world. It’s our goal to bring the industry together in an objective forum. This will continue to move the US forward and allow all to gain the maximum advantage from the upgrade to EMV.”
Initial discussions to solidify the activation of this group have begun. Specific details will be made available soon, as the industry continues to join together and the formal structure of the group is formed.