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Fiserv, MasterCard announce EMV agreement

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BROOKFIELD, Wis., and NEW YORK (3/14/14)--Fiserv Inc. and MasterCard  announced an agreement to make MasterCard's U.S. common debit EuroPay MasterCard Visa (EMV) solution available for Fiserv's Accel debit network.
 
Under this agreement, MasterCard issuers receive flexibility to select and implement network relationships, while merchants and acquirers will continue to route transactions as they prefer, without introducing multiple applications and complicated technology upgrades. The agreement provides Fiserv clients with access to a broad EMV solution.
 
In January 2013, MasterCard was the first network to offer its proprietary technology to other U.S. debit networks in support of the migration to EMV and to allow the routing of PIN debit transactions over multiple, unaffiliated networks.
 
The MasterCard U.S. common debit EMV solution is consistent with the EMV Migration Forum's recommendations, including a single common debit application identifier and single application on each card, as well as multiple ways to verify the cardholder's identity.