News

Fiserv expands Accel debit network routing options

January 31, 2018

Fiserv Inc. has announced that its Accel debit payments network has expanded routing options for online and in-store transactions. Recent rule changes by the major card networks will make a cardholder signature optional for these transactions, as well.

Historically, signature debit transactions could only be routed through the front-of-card brand. The expansion of Accel allows for greater competition in fees and interchange when routing transactions, a company press release said.

"Accel's strong growth is founded in enabling convenient, secure, real-time cardholder transactions," David Keenan, Fiserv senior vice president of card products, said in the release. "We are committed to helping financial institutions and merchants deliver the experiences and services consumers want — including point-of-sale programs for PIN and PIN-less debit, cardless options at point-of-sale and ATM, e-commerce and mobile payments — to generate deeper engagement, stronger loyalty and a competitive edge."

Walmart recently added the Accel signature debit service, the press release said; senior vice president and assistant treasurer Mike Cook said the savings would "quickly add up, allowing us to further invest in price and the customer experience."