Visa and First Data partner on EMV common debit solution

Thursday 27 February 2014 09:17 CET | News

Visa and First Data’s STAR Network have entered an agreement to share Visa’s common debit solution offering issuers, acquirers and merchants an enhanced approach for debit EMV chip adoption. EMV cards contain an embedded computer processor or a chip that generates a one-time code for each.

The collaboration between these two payments providers on the license agreement is set to help to enable the development of regulation-compliant debit EMV solutions using a common Application Identifier (AID). First Data’s STAR Network is set to use PIN and no CVM functionality on the common AID to enable different types of debit transactions on its network, including PIN, PINless and signature cardholder verification methods.

In recent news, Alpha Bank and Vodafone in partnership with Visa Europe and First Data have launched Tap n Pay, a mobile phone application for contactless payments in the Greek market.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Visa, First Data, EMV, debit, STAR Network, chip, PIN, AID, cards
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce