Fiserv has announced an agreement to make Visa’s common debit EMV solution available for the Accel debit network.
Fiserv will adopt Visa’s common debit solution offering issuers, acquirers and merchants an 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, Accel will be able to process PIN and PINless EMV transactions whilst 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.”
It seems laptops are about to catch the biometric fever as PayPal, Intel, Lenovo and Synaptics are collaborating to introduce FIDO-enabled embedded fingerprint solution to PCs.
Mastercard is working with Stripe to expedite the payment process for American sellers on the latter's marketplaces using the instant payouts feature from Stripe.
Lloyds has launched biometric finger print authentication for mobile banking.
Barclaycard has partnered with Case Station, a company that makes personalised phone cases, to embed contactless technology in the latter's smartphone cases.