Alignment, Collaboration and Leadership for the Road Forward
In its roadmap, MasterCard supports the need for the payments ecosystem to be aligned regarding the implementation of EMV standards in the United States. The company has indicated it will support current industry timelines in an effort to minimize disruption and to maximize investments across the payments ecosystem.
MasterCard was part of the original group that created the EMV standard and has supported the successful migration to EMV-based payments in nearly every major market globally. The company's continued investment in advancing these infrastructure standards has provided insights and expertise to guide the industry in advancing payments security and convenience.
"The shift to dynamic data in the transaction process will help ensure greater consistency, security and functionality between the U.S. region and the rest of the globe," said George Peabody, director, Emerging Technologies Advisory Service, Mercator Advisory Group. "Merchants and issuers need a clear and consistent roadmap for payment card security and innovation. MasterCard's approach, starting with EMV, will benefit consumers and the industry."
Additional detail on the roadmap and implementation activities will be provided to MasterCard customers in the coming weeks and months. In the meantime, initial resources can be obtained at www.mastercard.us/mchip-emv.html.