25 February 2017
visit nextgenbanking.co.uk

MasterCard and Pulse team on common debit EMV offering

14 May 2014  |  1918 views  |  0 Source: MasterCard

MasterCard (MA) and Pulse, a Discover Financial Services (DFS) company, have reached an agreement that will allow financial institutions that issue EMV debit cards that participate in both the MasterCard and Pulse networks to use MasterCard's common debit solution on those cards.

The agreement will help accelerate EMV deployment for the networks' mutual debit card issuers, merchants and acquirers.

U.S. debit regulations require that each debit card provide merchants and acquirers the opportunity to route debit transactions over multiple, unaffiliated networks. This is made possible for debit EMV cards through the use of common application identifiers (AIDs). Licensing MasterCard's common debit AID will help support EMV chip adoption in the United States by enabling issuers to deploy EMV cards in compliance with this regulatory requirement.

"This is another important step in moving the industry to EMV adoption," said Carolyn Balfany, group head, U.S. Product Delivery, MasterCard. "Working together with PULSE, we are providing secure payment solutions for debit programs that deliver maximum value to merchants, consumers and issuers."

"With this agreement, PULSE can now provide card issuers access to full EMV capabilities, regardless of debit card brand," said Judith McGuire, executive vice president, Product Management, PULSE. "In addition, merchants and acquirers on the PULSE network can develop their systems to support all debit routing options available through PULSE, including PIN, signature and PINless transactions."

PULSE will use MasterCard's common AID to process domestic ATM and POS transactions on behalf of issuers that participate in both PULSE and MasterCard, including those initiated with contactless-enabled devices.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit dh.comvisit dh.com

Who is commenting?

Top topics

Most viewed Most shared
EBA to relax controversial PSD2 authentication rulesEBA to relax controversial PSD2 authentica...
12171 views comments | 51 tweets | 72 linkedin
RBS to become fintech fund and high street outlet for challenger banks under HMT remedyRBS to become fintech fund and high street...
8318 views comments | 40 tweets | 34 linkedin
High rate of defaults hit P2P lending sectorHigh rate of defaults hit P2P lending sect...
6586 views comments | 18 tweets | 13 linkedin
hands typing furiouslyDecoding the Policy Impact of India's Unio...
6467 views 0 | 13 tweets | 2 linkedin
BNY Mellon seeks blockchain experts for new emerging biz and tech teamBNY Mellon seeks blockchain experts for ne...
6340 views comments | 7 tweets | 4 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job