MasterCards strategy for helping issuers, acquirers and merchants transition to chip is based on following customer-friendly principles and a commitment to cost reduction. Rather than imposing hard and fast threshold dates for the transition to chip, MasterCard is helping organizations identify the business opportunity in chip and plot a business strategy to enable it. Chase Paymentech has played a significant role in strengthening our relationship with merchants and we look forward to continuing to work together to introduce chip to their merchant customers in the coming months and years, said Kevin Stanton, President, MasterCard Canada. From Tap & Go payments with PayPass to Chip and PIN, MasterCard is advancing the Canadian payments industry. MasterCard and Chase Paymentech will help reduce the cost of chip implementation and ease the transition to chip by helping businesses become chip-ready in conjunction with their regular equipment and system upgrades, said Stanton.
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