TORONTO – Members of the Canadian payments industry, including payments network Interac Association, Visa Canada and MasterCard, as credit union and bank group, said yesterday they are conducting a test pilot of a chip-based card, in preparation of a national roll-out. A chip card is a credit or debit card that contains an embedded computer chip, which provides increased security, as well as a platform for a variety of other services. The Canadians will be using the established EMV chip standard, which is currently used by Europay MasterCard.
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