MasterCard and Discover’s PULSE recently signed an agreement that will allow participating EMV-issuing debit card networks to use MasterCard’s common debit solution—an effort to accelerate EMV deployment for issuers, merchants and acquirers.
“This is another important step in moving the industry to EMV adoption,” Carolyn Balfany, the head of U.S. product delivery at MasterCard, said. “Working together with PULSE, we are providing secure payment solutions for debit programs that deliver maximum value to merchants, consumers and issuers.”
U.S. financial regulations require that debit cards allow merchants and acquirers to route debit transactions over numerous unaffiliated networks, which is made possible by common application identifiers.
The agreement will allow issuers that use MasterCard and PULSE networks to access MasterCard’s common debit AID. PULSE will utilize MasterCard’s common AID to process ATM and point-of-sale transactions on behalf of participating issuers.
“With this agreement, PULSE can now provide card issuers access to full EMV capabilities, regardless of debit card brand,” Judith McGuire, the executive vice president of product management at PULSE, said. “In addition, merchants and acquirers on the PULSE network can develop their systems to support all debit routing options available through PULSE, including PIN, signature and PINless transactions.”