An event hosted by MasterCard Worldwide and Collis, the MasterCard EMV M/Chip Payment Solutions Symposium, was held to promote the deployment and use of the chip-based payment solutions.
Financial institutions in attendance were provided with a knowledge of MasterCard’s M/Chip technology through various workshops and seminars.
The use of a chip-based card has been a solution to combat fraud and add another layer of security to MasterCard card holders. The purpose of the symposium was to educate those who wanted to learn more about the chip or representatives who are responsible for planning, testing, development, certification or implementation of the chip. Additionally a great deal of attention was given to the strategies for migrating the technology and setting objectives from both the card Holder and Issuer perspectives.
Collis Secure Transaction Technology, the co-host of the event, has expressed a commitment to providing MasterCard customers with EMV and smart card solutions as they make the move to chip.
As of end 2009, there were over 487 million MasterCard branded EMV-Chip cards globally.