Company Spotlight

Picking Sides In PIN Debit EMV Routing

MasterCard issuers will be able to choose and advance network relationships, and merchants will be able to continue to route transaction as desired without needing making significant technological upgrades, under a recent deal Fiserv Inc. struck with the card brand. Fiserv is making MasterCard’s U.S. common debit EMV solution available for the Accel debit network. 

In an interview with, Dave Keenan, Fiserv general manager of network solutions, said Fiserv has been evaluating how best to integrate EMV security protections into the ecosystem.

“Fiserv has been actively participating in industry discussion about how and when to implement EMV in the United States, he said. “We determined as a result of this process that the time is right now for issuers to implement EMV as part of a comprehensive approach to curbing card fraud.”

The announcement with MasterCard reflects what Fiserv believes is the best, simple, streamlined way for issuers to implement EMV, and the solution includes card production, personalization, transaction processing or monitoring, and fraud management, Keenan said. “Our biggest goal was ensuring the way that introduced the least friction to implementation because the deadlines are rapidly approaching,” he said.

In October 2015, mandates set by the major card brands will shift counterfeit card liability to merchants if they are unable to accept EMV cards. Issuers will remain liable if they choose not to issue EMV cards. Those deadlines are of some concern to Keenan, as he thinks so issuers may not understand just how lengthy the adoption process could be.

“Even with a simple streamlined solution that we are announcing today, I still believe it is going to take issuers – after they have concluded their business evaluation – I think it still is going to take a minimum of six months to implement,” he said. “That’s even on a streamlined basis.” So the clock is ticking on these 2015 deadlines, and Keenan is urging all issuers to go through their evaluation process and make a decision and move accordingly now. “I am concerned as these deadlines approach that issuers don’t know this isn’t something you just can’t turn on tomorrow; it does take time to implement,” he said.

Other than that concern, Keenan says he is confident about EMV adoption that the solution Fiserv and MasterCard are pursing is both simple and “future proof.”

“We considered the future, so it was important to us to think in terms of what might be coming with Durbin II,” Keenan said. “… What you don’t want to do is have an issuer spend a significant amount on cards getting to market and then have them re-issue in a short amount of time.”

In a similar announced, Visa recently formed a partnership with First Data Corp. to share Visa’s common debit solution offering issuers, acquirers and merchants a streamlined and cost-effective approach for debit EMV chip adoption.


New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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