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Mastercard has approved the first cards for issuers that are compatible with the new EMVCo contactless specifications designed to protect against attacks from both traditional and quantum computers.
Experts have been warning for years about the potential for quantum computing to render today’s security protocols obsolete.
Mastercard has been working with global standards body EMVCo to embed quantum-resistant Enhanced Contactless specifications into current card programmes, amid fears over the prospect of bad actors harnessing quantum computing to break the encryption that protects key systems,
Ajay Bhalla, president, cyber & intelligence at Mastercard, says: “By bringing quantum-era technology to contactless payments, we are taking steps to future-proof security and privacy protection as much as possible. These new cards will deliver that greater peace of mind, while also providing consumers and merchants a seamless transition from today’s contactless experience.”
The new cards are designed to remain compatible with existing acceptance, network and issuer infrastructure and are available from Giesecke+Devrient and Thales.
Financial Services
