Mastercard sets about implementing tap-and-go standard

Wednesday 31 January 2018 10:27 CET | News

Mastercard has announced an initiative to create greater payment consistency by making tap-and-go standard in the next five years.

The changes underway ensure that consumers, merchants and governments around the world will be able to take advantage of next-generation digital technology which deliver greater security and convenience.

Beginning later this year, Mastercard will require a series of card and terminal upgrades across Europe, Latin America, Asia Pacific, Africa and the Middle East to bring secure and convenient contactless card payment technology to more people in more locations around the world.

This move means that every cardholder will be able to “tap” their card or device to pay, in these regions and every day.

The demand for contactless payments is constantly growing, with 15% of all in-store purchases globally using the technology.

Mastercard has established a roadmap that sets out the following requirements:

• After October 2018, all new acceptance terminals in Europe, the Middle East, Africa, Latin America and Asia Pacific will have EMV chip and contactless enabled;
• After April 2019, all new cards issued in Europe, the Middle East, Africa, Latin America and Asia Pacific will have EMV chip and contactless technology;
• By April 2023, all merchant terminals in Europe, the Middle East, Africa, and Latin America will be EMV chip and contactless enabled.

For consumers in Asia Pacific looking to tap and go, Mastercard-enabled contactless payments can be used at stores, fast food restaurants, pharmacies, grocery and convenience stores as well as at transit location and taxis.

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Keywords: MasterCard, tap-and-go, payments, cards, contactless, World, merchants, governments
Categories: Payments & Commerce | Cards
Countries: World
This article is part of category

Payments & Commerce