TALLAHASSEE, Fla. (4/9/14)--CU24 has entered into a licensing agreement with Visa to enable Europay-Mastercard-VISA (EMV) card transactions to route over the CU24 network.
With the Visa US common application identifier (AID) in place, CU24 credit union debit cards can be included among a merchant's routing options, and be fully compliant with both EMV secure technology and the routing rules under the Durbin amendment.
"Simply put, CU24 credit unions, merchant participants and ATM deployers can proceed to implement the protections of EMV knowing that they will be fully supported by our network," said Denise Grace, CU24 vice president of operations.
"It's taken a while for the industry to sort itself out," continued Grace, "but we have been monitoring events closely. Now that consensus is emerging, we can proceed with EMV technology to help decrease fraud and enhance product flexibility across the payments landscape."