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Vantiv prepped to roll out Durbin-compliant EMV card solutions

Having completed the first US Common AID-enabled EMV debit transaction with US merchants, Vantiv will begin production of Visa- and MasterCard-certified cards in January.

November 4, 2014

Vantiv Inc., a provider of payment processing services and related technologies, is the first U.S. acquirer to successfully complete an EMV chip transaction using the Durbin-compliant U.S. Common AID, a company press release said.

The Durbin Amendment requires support for two unaffiliated networks on a debit card, a unique circumstance that has presented a significant technical challenge to implementation of EMV in the U.S.

"The first debit chip transaction using the U.S. Common AID is an important milestone in our journey toward chip adoption in the United States," said Stephanie Ericksen, vice president of risk products at Visa Inc. "Operationalizing a regulatory-compliant chip solution for debit cards will help merchants and issuers adopt chip technology more quickly — especially important as we approach the 2015 counterfeit fraud liability shift."

Vantiv will begin production of EMV debit and credit cards certified by Visa and MasterCard in January 2015. Already, more than 200 banks and financial institutions have requested to issue the new chip cards, the company said.

"Vantiv's leadership in the market is proof that U.S. debit acquiring solutions work and can be rolled out," said Carolyn Balfany, group head of U.S. product delivery for MasterCard. "This is an important step to U.S. migration to EMV."