Fiserv has signed an agreement to enhance its debit EMV adoption in the US by offering Visa’s common solution to Accel debit network.
Under the deal, Fiserv will adopt Visa’s common debit solution that offers a streamlined approach to issuers, acquirers and merchants for debit EMV adoption.
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According to Fiserv, the agreement will enable the development of regulation-compliant debit EMV solutions using a common Application Identifier (AID) that facilitates US debit transactions from any debit network.
By licensing the Visa AID, the Accel network will be able to process PIN and PINless EMV transactions ensuring enhanced transaction processing security.
Visa corporate strategy and government relations executive vice president, Bill Sheedy, said: "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."
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