“MasterCard, Visa Moving U.S. Credit Cards to
'Chip-and-PIN' by 2013” written and published by Mark Hachman was the article
that I chose to read and talk about for the Wireless assignment. The article is a detailed article in which it
describes how the company “MasterCard” is now following in the company “Visa’s”
footsteps by getting their credit card on a system called the EMV system. The
way that this system work is when it comes time for a customer to use their
card, they will swipe the card as they usually do but will be asked to enter a
four digit pin number for verification purposes. The EMV system is being implemented
all around the globe. The purpose of this system is so that travelers from
other areas or the world are familiar with one form of payment, and not with an
unfamiliar source. Throughout the article Mark discusses how MasterCard has
been working towards making the purchasing experience much more modern and
quick for a consumer. With today’s technology it seems that possibilities are
endless and MasterCard is working towards making more efficient recourses for
their customers. Mark Hachman says in the article "We're moving toward a
world beyond plastic, where consumers will shop and pay in a way that best fits
their needs and lifestyles with a simple tap, click or touch in-store, online
or on a mobile device." By being able to purchase items off of your cell
phone really opens up opportunities and shows where our future is going. Not
only would this make it quicker for people to use especially those who are
constantly “on the go” but I think it would get the credit card companies a lot
more business. I personally have a Visa credit card and have MasterCard debit
card through Bank of America. The only thing that concerns me is that I’m not
sure how comfortable I would be entering all of my information into a certain
mobile site in order to take payment. There would have to be a great deal of
security reassurance in order for me to trust using this new form of payment.
Overall I think that MasterCard is heading in the right direction and will always
remain successful.
I think this is a great idea with the credit card chip. Hopefully it will allow for a more secure way of credit card processing. Today in age we see a lot of credit card fraud. I think by having the major credit card companies in on this it will allow on the cut down of fraud. Also it’s a very innovative way of using the credit card processing. As we know everyone is constantly on there phones and he or she don’t go any where without them. This allows for fewer things to carry around with your credit card on the phone. I also like that when traveling in and out of the country you will be able to travel hassle free. You will be able to use this chip for the credit card and not have to deal with contacting credit card companies and let them know that you are traveling. I want to see how this all transfers over before switching to this myself.
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