Visa, PULSE agree on EMV com­mon debit so­lu­tion

The Pak Banker - - 6BUSINESS -

Texas: Visa Inc and PULSE, a Dis­cover Fi­nan­cial Ser­vices com­pany, an­nounced an agree­ment to en­able fi­nan­cial in­sti­tu­tions that is­sue EMV debit cards on both the Visa and PULSE net­works to use Visa's com­mon debit so­lu­tion. Visa's com­mon ap­pli­ca­tion iden­ti­fier (AID) sup­ports U.S. debit reg­u­la­tions re­quir­ing the abil­ity to route trans­ac­tions over mul­ti­ple, un­af­fil­i­ated net­works. A com­mon debit so­lu­tion shared among all par­tic­i­pants will help to ac­cel­er­ate EMV chip adop- tion in the United States and pro­vide a uni­form plat­form that will en­able net­work in­no­va­tion.

"It's im­por­tant for the in­dus­try to work to­gether, es­pe­cially when it comes to the adop­tion of EMV chip," said Bill Sheedy, ex­ec­u­tive vice pres­i­dent of Cor­po­rate Strat­egy and Govern­ment Re­la­tions, Visa Inc. "Our com­mon so­lu­tion is an as­set we are mak­ing avail­able to the in­dus­try free of charge to pro­vide is­suers and mer­chants greater choice among debit net­works and en­able a stream- lined im­ple­men­ta­tion for all par­ties. The ad­di­tion of PULSE in Visa's EMV com­mon debit so­lu­tion, which now has been adopted by 4 of the top 5 debit net­works, pro­vides a level of clar­ity that we hope will jump start main­stream adop­tion of EMV tech­nol­ogy for debit in the U.S."

"Our net­work has been EMV­ca­pable since Oc­to­ber 2013, which will en­able us to sup­port trans­ac­tions us­ing the Visa com­mon AID with min­i­mal up­dates to our ex­ist­ing spec­i­fi­ca­tion," said Ju­dith McGuire, ex­ec­u­tive vice pres­i­dent, Prod­uct Man­age­ment, PULSE. "With this agree­ment, mer­chants and ac­quir­ers can de­velop their sys­tems to sup­port the full range of debit rout­ing op­tions avail­able through PULSE, in­clud­ing PIN, sig­na­ture and PIN­less trans­ac­tions."

Pa­tri­cia He­witt, vice pres­i­dent and man­ag­ing di­rec­tor of con­sult­ing ser­vices at Mer­ca­tor Ad­vi­sory Group said, "This agree­ment ad­dresses the un­cer­tainty that has plagued the ad­vance­ment of EMV for the U.S. debit mar­ket and sig­nals that the in­dus­try is ready to move for­ward with the broad adop­tion of EMV tech­nol­ogy among U.S. debit is­suers and ac­quir­ers."

PULSE will use func­tion­al­ity on Visa's com­mon AID to fa­cil­i­tate all types of point-of-sale debit trans­ac­tions on its net­work. In ad­di­tion, the agree­ment en­ables PULSE to fa­cil­i­tate do­mes­tic ATM trans­ac­tions on its net­work and pro­vides for is­suer choice in the rout­ing of ATM trans­ac­tions.

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