CO-OP, Visa enter agreement for EMV common debit solution

Wednesday 16 April 2014 11:23 CET | News

US-based CO-OP Financial Services has entered an agreement with Visa to make the Visa EMV common debit solution available to its credit union clients.

This agreement enables development of regulation-compliant debit EMV solutions using a common Application Identifier (AID). Some development will still need to be done at terminals (both POS and ATM) in order to choose the common AID.

The Visa EMV solution provides portability for debit card issuers, and network routing choices for merchants and ATM acquirers. It also supports different transaction types, including contact and contactless.

CO-OP Financial Services allows credit union members to connect to their accounts via network, payment processing, ecommerce, shared branching and call center services. CO-OP’s products fall into three business lines, including locations (ATM, shared branching and call center services), card payments (debit and credit processing), and mobile/virtual (mobile, online, check imaging, bill pay services).

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Keywords: CO-OP, Visa, EMV, online, payment
Categories: Payments & Commerce
Countries: World
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