Friday, November 7, 2008

Chip card market trial a success

October 28, 2008

Members of the payment card industry - Interac Association, MasterCard Canada, Inc., Visa Canada and many of their respective card issuers and payment processors - today released positive insight and observations from the industry trial of chip technology being conducted in Kitchener-Waterloo.

Chip technology is a new generation of payment cards which contain embedded microchips giving debit and credit cards the ability to securely store and process transaction information, making an already safe payment system even more secure.

"The chip trial allowed participants to assess customer and merchant communications and monitor awareness and adoption of chip technology," said Tracey Black, program director, Kitchener-Waterloo Industry Chip Trial. "Each organization will take away learnings from the trial to support their chip implementation plans across Canada."

For the full news release from the chip group click here.

Interac Association has announced the start of its national rollout of chip cards. For its news release click here.

Courtesy of Credit Union Central of Canada.

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