- Advancing the migration to EMV in the United States. Chip technology generates a unique code for every transaction, making it nearly impossible for criminals to use the card for counterfeit fraud.
- Promoting additional security solutions like tokenization and point to point encryption. While EMV addresses the physical point of sale, the need to protect mobile and online transactions is critical. In tokenization, the traditional account number will be replaced with a unique digital payment code, providing an additional layer of security.
- Developing an actionable roadmap for securing the future across all segments of the payments industry.
About MasterCard: MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews , join the discussion on the Cashless Pioneers Blog and subscribe for the latest news on the Engagement Bureau.About Visa Inc.: Visa Inc. (NYSE: V) is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world's most advanced processing networks — VisaNet — that is capable of handling more than 47,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead of time with prepaid or pay later with credit products. For more information, visit corporate.visa.com and @VisaNews.