If mPay is based on NFC and/or HCE then it is still based on the security architecture described in EMV. If mPay is based on a card on file solution then we are back in the classic Card Not Present challenge we currently face.

It would help, especially when talking about mobile payments, the author would clearly describe how payments are effected in the model they are promoting.

If the merchants are thinking about buying PCI compliant Payment terminals, 9 out of 10 come EMV capable.

Issuers are deploying EMV cards in large numbers. The migration has begun. Merchants like WalMart are almost finished deploying and more importantly turning on EMV. In fact if they are seeing an average of 50,000 EMV transactions a day then imagine how many others are seeing EMV transactions too.

The global standard to assure global interoperability, EMV addresses card present fraud, that is a proven fact.