JCB Joins Mastercard And Visa on EMV Standards Body
JCB has joined EMVCo, the EMV chip card standards body jointly owned by MasterCard International and Visa International, as an owner-member. JCB, an established supporter and end-user of the EMV specifications, has acquired a one-third share of EMVCo from MasterCard and Visa’s respective shareholdings. All three members now have equal interests in the organisation and EMVCo’s management structure has been altered to reflect this. JCB will appoint representatives to the EMVCo Board of Managers and the Executive Committee as well as its working groups. “EMVCo is pleased that JCB has become a member of the organisation. JCB’s status as a global payment organisation, coupled with its participation in the Japanese and Asian smart card markets, aligns well with EMVCo’s goal to ensure worldwide interoperability of smart card payment systems through the EMV specifications,” said Art Kranzley, Chair of the EMVCo Executive Committee and Executive Vice President and Chief e-Business Officer at MasterCard International.