MAG Insights

Announcements from the MAG & Featured Articles

Liz Garner, MAG Vice President, Article in Real Clear Technology: "Consensus Forms to Better Protect American Shoppers"

We witnessed a watershed moment last week in the long running effort to add more security to consumer transactions. Discover CEO David Nelms recently asserted that we're missing a big opportunity to improve consumer security by not putting PIN protections on EMV cards in the US. It’s a big deal, and it’s a welcome change in a process that has been plagued with problems.

Many global card brands and banks erred from the get-go by only issuing chip-enabled cards – commonly known as EMV cards – that require signatures instead of chip cards that require PINs. Chip and PIN is a proven technology that has been used by most of the developed world for years. Rather than relying on obsolete signature verification, chip and PIN relies on a two-pronged security system. The microchip embedded in the card encrypts account information; and then a consumer’s secret PIN is used to authenticate the cardholder.

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