News

MasterCard proposes cross-industry group to collaborate on EMV migration

May 22, 2012

MasterCard today proposed the formation of a cross-industry group designed to foster collaboration and alignment for EMV chip migration in the United States. The proposed group would include networks, issuers, merchants, acquirers, processors, terminal manufacturers, card manufacturers and others.

A cross-industry group would focus on several key areas that support a successful migration to EMV in the U.S. Among them:

• 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 facilitating best practices to simplify EMV implementation and consumer education.

Initial discussions concerning formation of the group have begun. MasterCard will provide details about the group over the next few weeks, as its working structure takes shape.

In a news release, MasterCard said the proposed group responded to the need for the U.S. payments ecosystem to be aligned in implementation of EMV standards. The company said it also underscores the need for securing all channels, including the ATM.

“Industry collaboration has proven to be critical to the successful migration to EMV in other parts of the world," said Chris McWilton, president of U.S. markets at MasterCard. "It’s our goal to bring the industry together in an objective forum. This will continue to move the U.S. forward and allow all to gain the maximum advantage from the upgrade to EMV.

For more on this topic, visit the EMV research center.