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Fiserv to adopt Visa's common debit EMV solution
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License agreement allows Accel debit network to process PIN and
PINless EMV transactions
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Fiserv offers comprehensive EMV solution including card production and
personalization, transaction processing and fraud mitigation
BROOKFIELD, Wis.--(BUSINESS WIRE)--
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™
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."
Additional Resources:
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:
Wade Coleman
Director, Public Relations
Fiserv,
Inc.
678-375-1210
wade.coleman@fiserv.com
Source: Fiserv, Inc.
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