MasterCard, Visa Moving U.S. Credit Cards to 'Chip-and-PIN' by 2013

  Author: Mark Hachman 2/2/12

The addition of the “chip-and-pin” system by MasterCard as caused visa to enable there own advanced system, EMV which is meant to ensure the security of individuals as well as the global interoperability, the ability for different organizations to be able to work together to come to a single agreement.  With this new technology being spread throughout a multitude of countries, there is numerous beneficial outcomes that can come from this agreement that is being made. 

According to the article by Laurie DePrete, “Chip-and-PIN Credit Card Technology Introduced In the US”, this new technology that the US has now accepted will allow individuals to be able to use there cards outside of the country.  This technology has been used in outside countries for the last several years, and the US is finally catching up to date.  

With this new technology applied to there cards, US individuals will be able to use there cards in any countries that accepts this new technologies, including most European countries.  Although this new technology may seem minute, it does cause an enormous impact on many nations.  With the ability to use the cards within many different countries and thus many different currencies, we are allowing for the bondage between locations.  In a way, the ability to be able to communicate and agree on a system in order to ‘unify’ the countries, we are in some ways coming together and creating allies.  

In addition to the agreements being made between these countries, it also allows individuals to be able to travel without the concerns of having to convert American dollars to other currencies and vise versa.  With tourists almost being forced to carry large quantities of money with them while they travel, there is also an increase in crime factor.   Most individuals that are traveling to another country are usually there for business or for pleasure, but regardless of the purpose of their stay they do plan on purchasing items specific to the location that they are in.  The ability to be able to use a credit card as opposed to having to carry around large sums of cash is an advantage in more ways that one.