MasterCard and PULSE have reached an agreement that will allow financial institutions that issue EMV debit cards to use MasterCard’s common debit solution on those cards.
The agreement will help accelerate EMV deployment for the networks’ mutual debit card issuers, merchants and acquirers.
US debit regulations require that each debit card provide merchants and acquirers the opportunity to route debit transactions over multiple, unaffiliated networks. Licensing MasterCard’s common debit AID will help support EMV chip adoption in the US by allowing issuers to deploy EMV cards in compliance with this regulatory requirement.
“This is another important step in moving the industry to EMV adoption,” said Carolyn Balfany, group head, US Product Delivery, MasterCard. “Working together with PULSE, we are providing secure payment solutions for debit programs that deliver maximum value to merchants, consumers and issuers.”
“With this agreement, PULSE can now provide card issuers access to full EMV capabilities, regardless of debit card brand,” said Judith McGuire, executive vice president, Product Management, PULSE. “In addition, merchants and acquirers on the PULSE network can develop their systems to support all debit routing options available through PULSE, including PIN, signature and PINless transactions.”
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