24 April 2014

Discover joins US EMV bandwagon

15 March 2012  |  6937 views  |  0 Discover card

Discover Financial Services has fallen in line behind larger rivals Visa and MasterCard, setting out a timetable for the US abandonment of mag-stripe cards in favour of EMV chip technology

In August Visa set out a three-step plan to encourage dynamic chip authentication adoption, requiring US processors to be able to support merchant acceptance of the technology by April 2013 before switching liability to retailers that have not upgraded in October 2015.

At the beginning of the year MasterCard followed suit and now Discover has promised to implement a 2013 EMV mandate for acquirers and direct-connect merchants in the US, as well as Canada and Mexico.

"This industry alignment will streamline certification and deployment efforts and enable a manageable transition for all parties involved, including issuers, merchants and acquirers," says the firm.

Discover says that its approach to EMV is "both universal and choice-centric," meaning the company will not restrict any channel, verification process or transaction type, supporting:

  • All card authentication channels - including online and offline
  • All cardholder verification methods - including both chip and PIN or chip and signature
  • All commerce channels - including contact and contactless (including mobile)

Troy Bernard, global head, chip payment technology, Discover, says: "Enabling EMV in North America is a significant step in Discover's approach toward emerging payments, and clearly a necessary one. We believe each payment solution should enable choice and security within its transaction environment, which is why when it comes to EMV, we're giving stakeholders choice and flexibility on how they implement it."

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Related blogs

Create a blog about this story (membership required)

Related stories

31 January, 2012
17 January, 2012
09 August, 2011
19 July, 2011
13 April, 2011
06 October, 2010
28 September, 2010
20 July, 2010
03 February, 2009

Related company news

 
Your browser is unable to support Flash files.

Featured job

to £75k base, £150k OTE, full benefits
London or South-East, UK

Find your next job