News

MasterCard Canada sets 2010 EMV migration goal

December 27, 2005

ePaynews.com:MasterCard Canada is expected to start the rollout of EMV cards between 2007 and 2010. The estimated cost of the rollout - CAN $1 billion (U.S. $858 million). Twelve MasterCard issuers and five acquirers are slated to participate in the migration. Visa Canada this year announced that liability for fraud on its cards would shift to non-chip compliant parties in 2010, but MasterCard does not plan a liability shift. MasterCard-issuing banks are free to set their own EMV migration timetable, but after 2010, cards without a chip are predicted to be in the minority.

(Read related stories ...)