Amex Becomes Part Owner of EMVCo

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Mogul of Pineapples
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Amex Becomes Part Owner of EMVCo

Postby Mogul of Pineapples » Sat Feb 07, 2009 3:23 pm

EMV (name comes from the first letters of Europay, MasterCard, and Visa who are the owners) announced a couple days ago that American Express has came on board as the fourth owner of the company, EMVCo. They set standards for microchip cards. They use the EMV chip which is that small 3 by 5 mm computer chip you see on some credit cards, but you see it much more often in Europe then you do on cards in the United States.

What does Amex joining EMVCoin the US? This could mean that we start seeing those microchips on their credit and charge cards, especially the Blue Card which currently uses its own version of a microchip on it.
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Cucumber
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Postby Cucumber » Sun Feb 08, 2009 4:08 am

1/4 owner.... that means they had to buy into this then??
OBAMA
Stop talking crap about him!

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fffresh
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Postby fffresh » Tue Feb 10, 2009 11:59 pm

I would be shocked if this acquisition involved the exchange of cash. EMVCo is a pseudo non profit operation in that their primary goal is setting and encouraging universal applications of microchips on credit cards. This was most likely seen as a strategic move by Visa, MasterCard and Europay given the increasing marketshare that American Express now has. You know what they say; if you can't beat them, join them. Pressure was on fo EMVCo to include American Express, otherwise they would face the possibility of a competitor of the technology.

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The Fuzz
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Postby The Fuzz » Thu Feb 12, 2009 11:52 am

I know that AMEX has always wanted to gain a stronger presence abroad, so this could be one of their plans to accomplish that. Not a bad one really, but I'm suprised I haven't heard anything about it. They have been pretty forthcoming with information like this since any change or decision the company makes right now seems to impact either jobs or stock prices. lol

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Mogul of Pineapples
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Postby Mogul of Pineapples » Thu Feb 12, 2009 11:23 pm

And they should focus on efforts abroad because that's where the real growth will be. I truly believe Amex can have a global marketshare comparable to Visa and Mastercard if they play their cards right.

(get it, "play their cards right" - my lame attempt at a joke ha!)
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred

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Cucumber
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Postby Cucumber » Fri Feb 13, 2009 8:35 pm

Mogul of Pineapples wrote:And they should focus on efforts abroad because that's where the real growth will be. I truly believe Amex can have a global marketshare comparable to Visa and Mastercard if they play their cards right.

(get it, "play their cards right" - my lame attempt at a joke ha!)


I thought Amex already was kind of a global player right now already :confused:
OBAMA
Stop talking crap about him!

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The Fuzz
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Postby The Fuzz » Mon Feb 16, 2009 4:26 pm

Cucumber wrote:I thought Amex already was kind of a global player right now already :confused:


The card is accepted around the globe, but the majority of the 80 million+ members reside in the USA. AMEX would like to see cardmembership increase abroad.



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