MasterCard and Visa still have some distance to travel before fully delivering on the agreement they proclaimed Thursday on a standard for electronic payment security.

The announcement of their accord brought a sigh of relief from the high- tech companies developing secure methods for transferring funds over the Internet and other open computer networks. Many such efforts had been on hold, awaiting a technical baseline analogous to the bank card associations' point of sale standards.

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.