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By Kevin Woodward Financial institutions that are facing the U.S. conversion to EMV chip cards but have no global card brands on all or a portion of their debit card portfolios now have an option that helps them meet regulatory requirements. The Debit Network Alliance LLC, which is owned by …
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Star Strikes Deal with MasterCard in the Latest Common AID Pairing
After a string of news from Visa Inc. about partnerships with electronic funds transfer networks to facilitate debit transactions with chip cards, MasterCard Inc. got back in the game Thursday with the announcement that First Data Corp.’s Star network will use MasterCard’s so-called common application identifier (AID). n Visa has …
Read More »Pulse Deal Gives Visa’s Common AID Nearly Universal Enablement for Chip Debit Transactions
Discover Financial Service’s Pulse subsidiary last week became the latest debit network to license Visa Inc.’s so-called common application identifier (AID) on soon-to-be-issued Europay-MasterCard-Visa (EMV) chip debit cards. This latest agreement means Visa’s common AID will be enabled on cards that account for nearly 90% of U.S. PIN-debit transactions. The …
Read More »Fiserv’s Accel Debit Network Now Supports Visa’s Common AID in Addition to MasterCard’s
Hard on the heels of its announcement last week that it will support MasterCard Inc.’s so-called common application identifier (AID) on chip debit cards, processor Fiserv Inc. followed up on Monday by disclosing that its Accel network also will support Visa Inc.’s AID. The news means that Accel is the …
Read More »Endpoint: Time To Get Behind the Common AID
A common solution has been found that will ease EMV migration and permit compliance with the Durbin Amendment, but all networks must support the solution to realize its full benefits, says Terry Dooley. The key to an easier, more affordable, and less complex solution for EMV in the United States …
Read More »Common Buy Button Excites Mastercard; Adyen Makes Canada Move; NFL Players on Prepaid Cards
Payments 3.0: A Judge’s Common Sense Vs. Regulatory Overreach
The saga of PayPal versus the Consumer Financial Protection Bureau entered a new chapter early this spring when PayPal won a favorable ruling from the U.S. District Court for the District of Columbia. On March 29, Judge Richard Leon ordered that the Bureau not require PayPal to provide the short-form …
Read More »Refund and Policy Abuse Is Replacing More Common E-Commerce Fraud Attacks, the MRC Finds
Opening the door to online commerce is an expedient and profitable way to reach consumers, but those with fraud on their minds also find a way in. Now, it is becoming tougher to distinguish those with good intent from the ones with bad intent, especially when formerly good customers start …
Read More »Plaid Announces New Tools to Make It Easier for Developers to Scale Faster
As part of its strategy to support application developers, open-banking platform provider Plaid Inc. this week introduced at its developer conference several tools to help developers create a broader range of financial technology applications regardless of the programming language developers use. The new suite of tools include Plaid Pattern apps, which …
Read More »Checkbook.io’s Link to Plaid Looks To Bring Verification to Real-Time Payments
As the payments business moves toward faster settlement, verifying payor accounts becomes crucial, yet for non-card payments, “there’s a gap there,” notes Patricia Hewitt, principal at PG Research & Advisory Services LLC, a Savannah, Ga.-based payments consultancy. On Thursday, Checkbook Inc., a San Mateo, Calif.-based startup, announced a step toward …
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