DES MOINES, Iowa (7/23/14)--The SHAZAM Network Tuesday announced an agreement to make the Europay-MasterCard-Visa (EMV) debit solution available to all of its participants.
The EMV chip card adoption is designed to decrease card fraud and increase transaction security. The agreement provides all SHAZAM Network participants with EMV licenses for MasterCard products, helping to achieve the goal of a more secure U.S. payments environment.
"The objective of our collaboration with MasterCard was to provide merchants and issuers routing choice for contact and contactless payments supporting PIN, signature or no cardholder authentication," said Terry Dooley, SHAZAM chief information officer. "We're confident this objective has been accomplished through the agreement we've reached with MasterCard."
Carolyn Balfany, MasterCard senior vice president of product delivery--EMV, said "Through this agreement the SHAZAM Network and MasterCard have taken another step to advance the U.S. migration to EMV. By streamlining the complexity of EMV implementation, we can advance greater debit card security."