Mastercard, Visa form cross-industry group for payment security

March 7 Fri Mar 7, 2014 10:30am EST

March 7 (Reuters) - Credit card companies MasterCard Inc and Visa Inc said they had formed a new cross-industry group to enhance payment system security across networks.

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.

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