Fiserv, MasterCard to boost EMV adoption in the US

Thursday 13 March 2014 13:46 CET | News

MasterCard has entered an agreement with US-based Fiserv technology provider, to deliver common debit EMV solution to Accel debit network.

As per the agreement, MasterCard issuers can select and implement network relationships, while merchants and acquirers will continue to route transactions without introducing multiple applications and complicated technology upgrades. The agreement provides Fiserv clients with access to a broad EMV solution.

The MasterCard US common debit EMV solution is consistent with the EMV Migration Forum’s recommendations, including a single common debit application identifier (AID) and single application on each card, as well as ways to verify the cardholder’s identity.

In January 2013, MasterCard was the first network to offer its proprietary technology to other US debit networks in an effort to support the migration to EMV and enable the routing of PIN debit transactions over multiple, unaffiliated networks.

Fiserv is a global technology provider serving the financial services industry in payments, processing services, risk and compliance, customer and channel management.

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Keywords: Fiserv, MasterCard, EMV, US, cards
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce