PRINCETON JUNCTION, N.J., July 1, 2013 (GLOBE NEWSWIRE) -- Following its June meeting, the EMV Migration Forum has issued the following statement on EMV debit implementation in the United States:
"The merchant, issuer, merchant acquirer, and issuer processor members of the EMV Migration Forum came together and jointly recommended principles for implementing EMV debit in the United States.
The recommended path for U.S. EMV debit implementation and acceptance at U.S. devices is a single common U.S. debit payment application identifier (AID) on a debit card that represents each of the debit networks enabled on the card.
If this approach is adopted as recommended, no additional complex tags are necessary for U.S. debit implementation, as would be required with a multi-application approach.
The goals of these recommendations are to reduce the complexity of U.S. EMV implementation and to facilitate a positive consumer experience.
These recommendations are the result of in-person meetings, weekly phone meetings over several months, and thousands of hours of evaluation and analysis of the technology and use case scenarios, involving a broad cross-section of industry stakeholders."
More information about U.S. EMV migration and the EMV Migration Forum can be found at http://www.emv-connection.com/emv-migration-forum/.
About U.S. EMV Migration
Commonly used globally in place of magnetic stripe, EMV chip technology drastically reduces card fraud in a face-to-face card-present environment; provides global interoperability; and enables safer and smarter transactions across cards and contactless channels.
About the EMV Migration Forum
The EMV Migration Forum is a cross-industry body focused on supporting an alignment of the EMV implementation steps required for global and regional payment networks, issuers, processors, merchants, and consumers to ensure a successful introduction of more secure EMV contact and contactless technology in the United States. The focus of the Forum is to address topics that require some level of industry cooperation and/or coordination to migrate successfully to EMV technology in the United States. For more information on the EMV Migration Forum, please visit http://www.emv-connection.com/emv-migration-forum/.