The payments industry has a long history of collaborating to develop the necessary standards that allow merchants and financial institutions to offer a consistent and secure payment experience, while providing consumers the confidence to shop anywhere, anytime.“This continued transition from plastic cards to digital is all about providing consumers with the ability to easily and safely make a purchase. They would no longer need to store their actual card account number when shopping online or with a smart device; the token would serve as that stand-in,” said Ed McLaughlin, Chief Emerging Payments Officer, MasterCard. “This proposed global standard builds on our track record of working across the industry to deliver safe and secure payment products. What we're introducing today is comparable to how the industry came together to develop and use the magnetic stripe, EMV and NFC on a global scale.”
MasterCard, Visa And American Express Propose New Global Standard To Make Online And Mobile Shopping Simpler And Safer
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