If U.S. banks continue to hesitate with smart card technology, then international trends and competitive pressures may force their hand, Visa International president Malcolm Williamson said Tuesday.

In a speech to Carte '99, a major international card technology conference, Mr. Williamson estimated that the banking world is about a third of the way along in the evolution of chip cards, yet the United States remains woefully behind.

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.