Fiserv, MasterCard Agreement Advances Debit EMV Adoption in the U.S.

March 12, 2014

BROOKFIELD, Wis. & N.Y.--(BUSINESS WIRE)-- Fiserv, Inc. (NASDAQ: FISV) and MasterCard (NYSE: MA) today announced an agreement to make MasterCard's U.S. common debit EMV solution available for the Accel debit network.

Under this agreement, MasterCard issuers receive flexibility 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. The agreement provides Fiserv clients with access to a broad EMV solution.

In January 2013, MasterCard was the first network to offer its proprietary technology to other U.S. debit networks in an effort to support the migration to EMV and enable the routing of PIN debit transactions over multiple, unaffiliated networks. This decision allows acquirers to brand transactions originating from the Maestro AID (application identifier) for all debit networks that elect to participate.

"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."

The MasterCard 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.

Additional Resources:

About MasterCard: MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world's fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard's products and solutions make everyday commerce activities - such as shopping, traveling, running a business and managing finances - easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Pioneers Blog and subscribe for the latest news on the Engagement Bureau.

About Fiserv

Fiserv, Inc. (NASDAQ: FISV) is a leading global technology provider serving the financial services industry, driving innovation in payments, processing services, risk and compliance, customer and channel management, and business insights and optimization. For more information, visit www.fiserv.com.

FISV-G

Media Relations:
Julie Nixon
Senior Public Relations Manager
Fiserv, Inc.
678-375-3744
julie.nixon@fiserv.com
or
Additional Contact:
Seth Eisen
Corporate and Public Affairs Communications
MasterCard
914-249-3153
seth_eisen@mastercard.com

Source: Fiserv Fiserv, Inc.

News Provided by Acquire Media