March 7, 2014 / 3:34 PM / in 4 years

Mastercard, Visa form cross-industry group for payment security

(Reuters) - Credit card companies MasterCard Inc MA.N and Visa Inc V.N said they had formed a new cross-industry group to enhance payment system security across networks.

MasterCard and VISA credit cards are seen in this illustrative photograph taken in Hong Kong December 8, 2010. REUTERS/Bobby Yip

The new group, which will include representatives from the retailing, financial and equipment manufacturing industries, will initially focus on the adoption of EMV chip technology in the United States, MasterCard said.

Reporting by Aman Shah in Bangalore; Editing by Kirti Pandey

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