MasterCard joins Visa in streamlining chip card processing

MasterCard on Monday announced plans similar to those made last week by Visa to speed up chip card in-store terminal testing and certification.

The changes could reduce the certification and testing time to a couple of hours, down from a couple of weeks, said Chiro Aikat, senior vice president for product delivery-EMV for MasterCard.

Under MasterCard's approach, banks will have more responsibility and flexibility for testing the new terminals. MasterCard also cut the number of needed tests by 58% and said banks can "use their discretion and expertise in deciding when terminals are ready for deployment."

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