FIS and MasterCard advance US EMV adoption with common debit solution

mastercard-debit

FIS and MasterCard have announced a licensing agreement that will make MasterCard’s EMV debit solution available to all NYCE participants.

This licensing agreement will provide all NYCE Network participants with an EMV license with respect to MasterCard products and continues the advancement toward a secure payment environment. This will bring full EMV deployment across the US another step closer.

“This agreement not only adds to FIS’ market-leading EMV card production and EFT processing capabilities, it also advances the adoption of EMV solutions in the US,” said Bob Woodbury, SVP and general manager, FIS Payments Networks. “Chip cards offer significant reductions in card-based fraud, and demand for an industry wide, common sense solution is growing.”

“This is a further step in our commitment to improving U.S. transaction security through EMV migration,” said Carolyn Balfany, group head, US Product Delivery, MasterCard. “By reducing the complexity of EMV implementation, it accelerates the changeover and moves the industry closer to greater debit security.”

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