The payment giant said in a statement that the EMV standard has already been successfully implemented in over 80 markets worldwide, significantly reducing counterfeit card fraud and saving hundreds of millions of dollars in potential losses.
EMV technology uses a microprocessor chip embedded in the card to store and process data, making it more secure than traditional magnetic stripe cards.
The Senior Vice President of Commercial Solutions, EEMEA at MasterCard, Clyde Rosanowski, said, “By combining Mastercard’s leading payment technology with Payment24’s innovative and proven fuel payments platform, we deliver a solution for the region that enhances security and adds significant value and convenience for customers.”
Through this partnership, MasterCard and Payment24 will work together to promote secure and innovative payment solutions, supporting the growth and development of the fleet and fuel payment industry across EMEA.
According to Mastercard, the collaboration extends the geographical reach of a proven solution and delivers modern fleet and fuel payment solutions to banks and fleet card issuers throughout the region.
