News

Fiserv, MasterCard reach EMV debit routing agreement

March 12, 2014

Fiserv Inc. and MasterCard have reached an agreement to make the card company's U.S. common debit EMV solution available for the Fiserv Accel debit network. The agreement gives Fiserv clients access to a broad EMV solution, the company said in an announcement.

The agreement means that MasterCard issuers will have the flexibility to select and implement network relationships, while merchants and acquirers will maintain the ability to route transactions as they prefer, without the need for multiple applications and complicated technology upgrades. The agreement provides Fiserv clients with access to a broad EMV solution. 

"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," said Chris McWilton, president of North American markets at MasterCard.

"[W]e are committed to providing our clients with a simple, streamlined path to implement EMV," said Kevin Gregoire, Fiserv group president for financial institutions. "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 EMV Migration Forum recommendations that call for a single common debit application identifier and single application on each card, as well as multiple ways to verify the cardholder's identity.