Fiserv and MasterCard have announced an agreement to make MasterCard’s U.S. common debit EMV solution available for the Accel debit network.
Under the agreement, MasterCard issuers will be able to "select and implement network relationships, while merchants and acquirers will continue to route transactions as they prefer, without introducing multiple applications and complicated technology upgrades."
This represents our continued commitment to help issuers, merchants and others continue the migration to the EMV standard here in the U.S.,” said Chris McWilton, president, North American Markets, MasterCard.
“In this agreement, Fiserv and the Accel network are able to provide their customers a solution that can be activated today, delivering enhanced security while streamlining implementation and accelerating delivery of chip cards to our shared cardholders.”
“As a leader in card processing, we are committed to providing our clients with a simple, streamlined path to implement EMV,” said Kevin Gregoire, group president, Financial Institutions Group, Fiserv.
“We are pleased to partner with MasterCard as part of a comprehensive, Regulation II compliant solution that includes Accel Network processing, card production and personalization, and industry-leading fraud and risk mitigation.”
MasterCard says its U.S. 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 multiple ways to verify the cardholder’s identity."