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| Erica Harvill MasterCard Worldwide 914-249-6848 |
MasterCard Takes Payments Technology into the Future with the Launch of M/Chip Advance
Chip Innovation Unlocks Potential for Unparalleled Integration to Improve Value and Experience of Payments Programs across the Industry
MasterCard M/Chip Advance evolved from the proven M/Chip platform and meets new and exciting needs identified by financial institution customers and other industry partners. Its compatibility with current M/Chip and EMV technology allows card issuers to utilize existing infrastructure and investment to build both their brands and emerging businesses. With the inclusion of MasterCard® PayPass™, M/Chip Advance also consolidates contact and contactless platforms, bringing cost savings and operation efficiency for issuers, vendors and other industry partners.
“The much enhanced MasterCard M/Chip Advance platform brings a new dynamic to payments, giving issuers, acquirers and merchants everything they need to readily provide enhanced customer value from their chip-based programs,” said Joshua Peirez, Head of Innovative Platforms, MasterCard Worldwide. “M/Chip Advance is a solution that provides a competitive edge to increase market share and boost industry brands at a time when cost-effective innovation is vital to profitable growth,”
Peirez added, “This new product from MasterCard is another example of its commitment to shaping the future of payments at the heart of commerce.”
Among the benefits of M/Chip Advance to issuers are:
- Potential for increased revenues and profitability by optimizing and expanding card use, enabling enhanced segmentation and providing an opening to new markets and revenue streams.
- Cost efficient implementation by utilizing existing infrastructure and consolidating services on a single platform.
- Opportunity for brand promotion, by improving security and the cardholder payment experience and providing cardholders with leading edge payment products.
MasterCard Chip Program Leadership
MasterCard has extensive global experience in the planning and implementation of chip programs around the world. It can help organizations identify, analyze and develop their business opportunities and plot a chip integration and deployment strategy that is right for them.
MasterCard has developed a number of added-value applications that extend and go beyond the payment security offered by MasterCard M/Chip, its underlying chip platform. The MasterCard OneSmart suite of applications is fully supported by M/Chip Advance and uses the features of M/Chip to optimal effect. It enables MasterCard customers to deploy added-value business solutions that both quickly and easily to enhance their cardholders’ experience. With the launch of M/Chip Advance, MasterCard takes chip payment technology into the future for the industry.
About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes approximately 21 billion transactions each year, and provides industry-leading analysis and consulting services to financial-institution customers and merchants. Powered by the MasterCard Worldwide Network and through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com.