emd was rolled out in france in the early 90's. wereact that major brands not able to open up and get their networks on those ships, i amendment hasan -- absent that competition, we would be in a dangerous spot with the rollout in the u.s. and that's one reason we have major concerns inut playing any larger role commerce as we roll things out because of the lack of competition that could result. move to the to audience in one minute, but mentioned by we secure on the panel, it is a great program and we are so pleased the administration has been helpful in educating us about this issue. there waso see if anything you wanted to add before we moved to q and a? secure,we announced by our focus was on security and .hat would be the most secure the president was robust and it is ship and pin and we can be technology neutral and look for more innovation beyond pin itself. we are looking for a system that authenticates the chip presented at the terminal. i know many of the companies we have worked with and talk to have worked with these in

as we move into the digital and mobile commerce space, lesson learned from emd. really we need to be thinking outside the box. let's not look to the same traditional payment companies we have looked at time and time again to facilitate payments. we are talking about commerce here. i don't see mobile payments, i see mobile commerce. so much added value we can bring to consumers every day to move into those new platforms. >> technology is a great tool. are seeing online are a lot of options available for and issuing banks to protections,ecure which will ultimately benefit consumers. i think the technology is here. i agree with what they said about the latter getting higher all the time. i don't think right now consumers are the impediment toward moving the pin. i think that is a good and file option to protecting their information. what i have heard is the discovery card and the ceo has agreed that it is a good option. i will close by saying i think it is a simple low-cost and immediate way of addressing credit card -- credit card fraud. >> thank you all for coming

has made to protect consumers by deploying and implementing chip enabled credit cards, also need is emd cards and terminals. some of you i'm sure have all received your chipped cards. we won't hold them up to avoid any security issues. the challenges and roadblocks that have delayed this progress, the difference between the technology, we will alk about an update on the white house's effort to protect americans from credit card fraud and identity theft. here is where we are. in the months leading up to the october 1 deadline, retailers across the country were responsible for upgrading their payment terminals to accept new chip enabled cards. on october 1, 2015, retailers and credit card issuers underwent a liability shift. now in the event of fraudulent activity, the financial burden falls on which ever party was using the old payment echnology. the new chip cards are considerably better than the old magnetic stripe cards from the 1970's, we had to enter those longer than we should have, they rely on a signature as a secondary form of verification. that feature has little worth since si

has made to protect consumers by deploying and implementing chip enabled credit cards, also need is emd cards and terminals. some of you i am sure, maybe most have received your check card. we won't hold them up to avoid any security issues. the challenges that have delayed this progress, the difference between the technology, we will talk about an update on the white house's effort to protect americans from credit card fraud and identity theft. here is where we are. in the months leading up to the october 1 deadline, retailers across the country were responsible for upgrading their payment terminals to accept new chip enabled cards. on october 1, 2015, retailers and credit card issuers underwent a liability shift. now in the event of fraudulent activity, the financial burden falls on which ever party was using the old payment technology. the new chip cards are considerably better than the old magnetic stripe cards from the 1970's, we had to enter those longer than we should have, they rely on a signature as a secondary form of verification. that feature has little worth since signature