MasterCard first announced in June it would work on the project with Visa, with the expectation of publishing the standard later in the year. But in September, the companies were unable to reach a consensus and broke off their discussion. Visa subsequently teamed with Microsoft to publish a standard that same month.
According to MasterCard officials, the two companies have resumed their discussions along with Microsoft, Netscape, RSA Data Security, and VeriSign. The new standard is expected to be released in January.