Following in the footsteps of Visa, MasterCard and Discover, American Express has set out a timetable for its US abandonment of mag-stripe cards in favour of EMV chip technology.
It's surprising that the decision by Amex is presented as a separate event - Amex
is a member of EMV, and hence would "naturally" be expected to play ball.
In less than a year, over 90% of the cards issued worldwide will be based on "chip", i.e. EMV ("chip"/"chip-n-PIN" will become de facto standard for retail payments. It's time to extend the security of that trusted and convenient payment method to online
and mobile applications too.
Competitive (including base, OTE, benefits)London, UK
© Finextra Research 2014