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.
© Finextra Research 2014