MasterCard has followed Visa’s initiative by unveiling its own
recommendations on how best to make the switch to EMV in the
US.
The network has set out plans to offer
merchants financial incentives to encourage the roll-out of
EMV-compatible terminals, and has designed a framework for
acquirers aimed at ensuring the infrastructure is in place by
2013.
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MasterCard said its roadmap has been designed
around addressing how consumers really shop and providing them
greater security and control in their payment choices. The network
also emphasised the potential for developing more sophisticated
integrated loyalty programmes.
Chris McWilton, MasterCard’s president of US
markets said: “We are moving toward a world beyond plastic, where
consumers will shop and pay in a way that best fits their needs and
lifestyles with a simple tap, click or touch in-store, online or on
a mobile device.”
“Our roadmap represents a transformational
shift in the approach to payments and is not simply about EMV, chip
and PIN. We’re focused on readying the ecosystem to drive future
innovation and provide new consumer experiences to enhance the
value of electronic payments.”
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