A MasterCard International official told a congressional committee Wednesday that encryption technology is "vital to the development and security" of a number of its products, including its smart card program.

Joel Lisker, MasterCard International senior vice president for security and risk management, testified in support of the "Promotion of Commerce On- Line in the Digital Era Act" bill.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.