From the FiS News of the Day: articles about the FiS EMV and NYCE Network updates.
FIS, NYCE Enter EMV Debit Routing Agreement with MasterCard
PaymentsSource
FIS’ NYCE payments network has reached an agreement with MasterCard to use the card brand’s technology for routing EMV debit payments. The agreement with MasterCard enables all NYCE network participants to use MasterCard’s EMV debit solution. “This is a further step in our commitment to improving U.S. transaction security through EMV migration,” says Carolyn Balfany, group head of U.S. product delivery at MasterCard, in a June 4 press release. “By reducing the complexity of EMV implementation, it accelerates the changeover and moves the industry closer to greater debit security.”
MasterCard EMV Debit to Work Across NYCE Network
Finextra
EMV chip card adoption is a common goal of the U.S. payments industry, designed to increase card transaction security and decrease card-based fraud. This agreement provides all NYCE Network participants with an EMV license with respect to MasterCard products and continues the advancement toward a secure payment environment.
FIS and MasterCard Advance US EMV Adoption with Common Debit Solution
FIS Press Release
FIS, the world’s largest provider of banking and payments technology, its NYCE Payments Network and MasterCard today announced a licensing agreement that will make MasterCard’s EMV debit solution available to all NYCE participants. EMV chip card adoption is a common goal of the U.S. payments industry, designed to increase card transaction security and decrease card-based fraud. This agreement provides all NYCE Network participants with an EMV license with respect to MasterCard products and continues the advancement toward a secure payment environment. “This agreement not only adds to FIS’ market-leading EMV card production and EFT processing capabilities, it also advances the adoption of EMV solutions in the U.S.,” said Bob Woodbury, SVP and general manager, FIS Payments Networks. “Chip cards offer significant reductions in card-based fraud, and demand for an industry wide, common sense solution is growing.”