25 March 2017
visit nextgenbanking.co.uk

Visa debit to gain acceptance over Accel network

17 March 2014  |  1603 views  |  0 Source: Fiserv

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced an agreement to make Visa's common debit EMV solution available for the Accel(TM) debit network.

Under the agreement, Fiserv will adopt Visa's common debit solution offering issuers, acquirers and merchants a simple, streamlined approach for debit EMV adoption. The agreement will help enable the development of regulation-compliant debit EMV solutions using a common Application Identifier (AID).

By licensing the Visa AID, the Accel network will be able to process PIN and PINless EMV transactions ensuring enhanced transaction processing security. The AID will facilitate U.S. debit transactions from any debit network that licenses the Visa common AID solution and is enabled on a Visa card.

"With more than 7 million Visa EMV chip cards already issued in the U.S., it is important to continue the momentum towards more widespread adoption," said Bill Sheedy, executive vice president of Corporate Strategy and Government Relations, Visa Inc. "With Fiserv participating in the common solution we have made available to the industry, we can offer more choices to issuers and merchants and a clear roadmap for streamlined, cost-effective chip adoption."

"As a leader in card processing, Fiserv is excited to partner with Visa to increase payment security," said Kevin Gregoire, group president, Financial Institution Group, Fiserv. "Best-in-class solutions require bold leadership and winning execution, and this partnership delivers both. With a comprehensive solution that includes card production, transaction processing and fraud mitigation, Fiserv helps our clients win today and in the future."

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related company information

Fiserv, Inc.

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comvisit abe-eba.eu

Top topics

Most viewed Most shared
French retailer Carrefour launches online bank accountFrench retailer Carrefour launches online...
57134 views comments | 15 tweets | 35 linkedin
Can banks really win in the payments business of the future? – new Finextra reportCan banks really win in the payments busin...
8536 views comments | 23 tweets | 37 linkedin
European Commission opens public consultation on fintechEuropean Commission opens public consultat...
8489 views comments | 42 tweets | 25 linkedin
Westpac wants to take over your messaging keyboardWestpac wants to take over your messaging...
7084 views comments | 4 tweets | 10 linkedin
SecureKey taps IBM to put identity on the blockchainSecureKey taps IBM to put identity on the...
6976 views comments | 22 tweets | 15 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job