MasterCard Says Chip Solutions Ready for Implementation in Canada
MasterCard has announced that its chip card solutions are ready for implementation in the Canadian market. But it's not clear when actual chip card deployment might begin.
"MasterCard's chip capability and smart card platforms, including the OneSMART(TM) MasterCard(R) program, have been in place for some time and are ready for immediate implementation in Canada," said Kevin Stanton, President, MasterCard Canada."As a customer-driven organization, we do not mandate terms, conditions and timelines for chip migration to our customers," said Stanton. "Instead, we work with our customer financial institutions and merchants to enact customized plans for chip migration according to their business needs and to the unique context of their individual markets. And for financial institutions and merchants that need highly customized, proprietary solutions, we have MasterCard Advisors at the ready. MasterCard is thoroughly prepared to process a chip transaction in Canada today. In other words, we're ready now for when our Canadian customers are ready to go to chip."
"The transition to chip is not a small matter," said Stanton. "It requires deliberate business planning, cost allocations, and transition management. MasterCard is best-positioned to help an organization first determine whether chip is right for their business and then to help guide them through all stages of the migration process."
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