February 1, 2012

MasterCard and Visa recently announced their plans to start EMV technology adoption in credit cards, 15 years after the technology was developed (it’s already been adopted in many countries, particularly in Europe).EMV (which actually stands for Europay, Mastercard and Visa) uses a digital chip to encrypt card data, much more secure than the current magnetic strips. The push will mainly be for bricks-and-mortar stores to update their technology to read the cards by 2015. However,…