A Thing
The Green SheetGreen Sheet

Wednesday, December 1, 2010

MAG plans for migration to mobile

The Merchant Advisory Group recently devised a set of recommendations to influence the evolution of the U.S. payment system. The policy and technology suggestions will be submitted to "stakeholder groups in the payments business to help them understand merchant needs and preferences transitioning to more secure and efficient transacting – especially with mobile devices," MAG said in a statement.

"It's been widely recognized that leadership is needed to help this country migrate to a better payment system," said Dodd Roberts, MAG's President and Chief Executive Officer. "We hope and intend that this document will help other stakeholders in the payments ecosystem understand the merchant position, and will accelerate progress in specifying and justifying the emerging new payments infrastructure."

The recommendations propose that investments be channeled to the "configuration anticipated to be the preferred payments embodiment in the future—incorporation of 'smart card' types of computer chips conveying secure account credentials by contactless transmission to a new generation of POS terminals equipped to identify those devices and securely enter PINs as well."

MAG also endorses a national move to Europay, MasterCard and Visa, the global standard for contactless cards offering chip & PIN capability.

end of article

The Green Sheet Inc. is now a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals. Click here for more information.

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007
A Thing