June 26, 2014 - MasterCard today announced that it has certified AEON Bank, Ltd., a subsidiary of AEON Financial Service Co., Ltd., as the first financial institution in Japan to deploy ATMs that support EMV chip card transactions.
The EMV-compliant ATMs offer enhanced security for foreign-issued debit and credit cards. MasterCard held a ceremony today at AEON MALL Makuhari New City in the suburbs of Tokyo, to commemorate the deployment.
EMV is the international standard for IC chips used in payment card transactions. It ensures high security by encrypting the card information read and transmitted by ATMs and other terminals, thus protecting consumers from unauthorized use of their card data. MasterCard, together with the global financial industry, has been promoting the use of EMV technology, which is gaining popularity worldwide.
With the rising numbers of travelers visiting Japan, there is increasing demand for enhanced security measures to prevent fraudulent transactions, including at ATMs. MasterCard, as part of its ongoing efforts to encourage wider use of EMV chip technology in Japan, worked closely with AEON Bank to support the initial deployment.
"The entire MasterCard team extends its appreciation to Aeon Bank for partnering to provide ATM access for MasterCard and Maestro cardholders traveling to Japan," said Eileen Simon, MasterCard's Chief Franchise Integrity Officer. "Aeon quickly recognized the benefits of employing Chip and PIN technology in their ATMs throughout Japan, enabling both Aeon Bank and hundreds of millions of MasterCard and Maestro cardholders access to the newest, most secure method of conducting ATM transactions. We look forward to our continued partnership."
MasterCard's Division President for Japan, Robert R. Luton, said, "We are extremely pleased to partner AEON Bank in this effort to make transactions more secure for cardholders. As transactions become increasingly globalized, it is imperative that this global security standard be deployed quickly. We expect this certification to provide extra momentum for the rapid deployment of EMV chip cards in Japan. MasterCard is committed to developing and promoting advanced technologies that ensure safer traansactions and enhance consumer confidence."
AEON Financial Service's Executive Vice President, Masao Mizuno, said, "We are excited to offer customers more robust security with the upgrading of our ATMs to support EMV chip card transactions for the first time in Japan. We believe foreign visitors will appreciate the convenience, easy access and now the extra security of our ATMs in places such as airports, train stations and especially our AEON shopping malls. We will continue to explore opportunities to offer increasingly secure, convenient and rewarding financial services."
Japan National Tourism Organization's Executive Vice President, Kenji Jimbo, said, "I am very pleased by the deployment of EMV-compliant standard ATMs which is an important step in improving the financial security of consumers, especially at a time when travel to Japan is on the rise. On June 17th this year, the ministerial council meeting on the promotion of Japan as a tourism-oriented country has resolved an action plan that includes promoting the improvement of the payments infrastructure for foreign visitors, and we expect MasterCard and AEON Bank's efforts to contribute towards this. We hope that this will be a catalyst for the industry-wide deployment of EMV. Increased financial security will help contribute to Japan's reputation as a safe country and ultimately encourage more tourists to visit Japan."
