MasterCard to Foster Industry Collaboration in Preparation for EMV Migration
MasterCard has proposed the formation of a cross-industry group designed to foster collaboration and alignment between networks, issuers, merchants, acquirers, processors, terminal manufacturers, card manufacturers and other groups in the implementation of EMV technology in the US.
In introducing its roadmap in January, MasterCard emphasised 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, and expressed a commitment to take a leadership role in delivering the maximum benefits to consumers and the industry from the EMV migration.
“We recognise that this next step toward a world beyond cash has raised a number of questions among our customers from baseline standards to timelines and implications,” said Chris McWilton, president, US markets, MasterCard. “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.”