The world's largest payment processor Visa Inc said it would accelerate the move to chip technology in its debit and credit cards and speed up the use of mobile payments in the United States.

Chip payments are generally considered to be more secure and can reduce the payment processor's fraud costs.

The company said it would continue to support a range of cardholder verification methods including signature and PIN methods.

Visa also intends to institute a U.S. liability shift for domestic and cross-border counterfeit card-present point-of-sale (POS) transactions, effective October 1, 2015.

(Reporting by Jochelle Mendonca in Bangalore)

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