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June 20, 2004

Visa Canada Moving To Chip Within Seven Years

ePaynews.com Newsletter | June 27, 2003 | Issue 220 |

Jun 25 2003 : Over the next seven years, Visa Canada will convert most Visa-branded cards to chip, and adapt POS terminals to accept chip-based payments, but will not set a deadline due to the current low fraud rate. Cards and terminals will be upgraded as part of the normal replacement cycle, said Visa Canada’s Derek Fry, who confirms, “Canada is going to [migrate to chip and PIN], … but we’re going to take our time and figure out how to do it smoothly”. Canadian consumers already use PINs to verify debit card payments on Interac, the national network, so the change to PIN-based payments is not insurmountable.

June 20, 2004 at 11:16 AM in Smart Cards | Permalink | TrackBack (7) | Top of page | Blog Home