Visa, MasterCard agree to boost payment systems' security | Visa, MasterCard agree to boost payment systems' security -

Visa, MasterCard agree to boost payment systems’ security

: Tuesday, March 11 - 2014 @ 00:56

MasterCard and Visa have agreed to form a new cross-industry group to further boost security of payment systems, in a bid to ensure more secure transactions for consumers, retailers and financial institutions, PTI has reported. The group, which includes banks, credit unions, acquirers, retailers, point-of-sale device manufacturers and industry trade groups, will initially focus on adoption of EMV chip technology in the US in addition to addressing other security-related topics like tokenisation and point-to-point encryption. “The recent high-profile breaches have served as a catalyst for much needed collaboration between the retail and financial services industry on the issue of payment security,” Visa Inc. President Ryan McInerney said.

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Tuesday, March 11- 2014 @ 0:56 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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