The test tool makes it easier for banks, card manufacturers and personalization bureaus to confidently test that a product meets MasterCard's EMV chip standard prior to applying for the formal CPV approval service.

The testing tool will be of particular interest to the U.S.-based payment community, as the U.S. prepares its existing systems and processes for the market's adoption of EMV technology by October 2015.

"CPV is an important part of the EMV chip card issuance process," explained Vincent Poty, head of strategy and corporate development at FIME. "In the U.S., this is even more complex as the EMV chip must support more than one payment system so that the merchant can choose how to process the transaction based on their network preferences. Testing against this latest MasterCard CPV Specification confirms that a contact, contactless or dual interface EMV chip card has achieved this requirement."

"The CPV tool enables market stakeholders, including banks, card manufacturers and personalization bureaus, to test a product's adherence to the latest MasterCard standards," said Brian Summerhayes, managing director at Barnes International. "Tool users can accelerate the new product launch process by eliminating costly and time consuming issues in the final certification stage."

FIME, an accredited MasterCard service provider, will also use the updated tool in its official capacity to generate test results for MasterCard CPV product approvals.

Barnes and FIME have combined their expertise since 2011 to effectively meet the requirements of MasterCard. The tool is available in four forms: Barnes CPT 3000v3 CPV module; Barnes CAT 3000v3 module; Barnes CPT Pro Issuer FIME-CPV; and PersevalPro FIME-CPV.