SHAZAM to debut dual-message pin transactions, EMV card support

The SHAZAM Network announced its new dual-message PIN product and its plans to expand its support of EMV this week.

The product, which will make its debut in the EFT industry, uses a dual-message transaction with separate authorization and settlement messages for PIN-based transactions. Until now, this capability has only been available on signature-based transactions.

“The SHAZAM network was a pioneer with single message PIN transactions and will now become a pioneer again by supporting dual message PIN transactions,” Michael Hollinger, SHAZAM's president and CEO, said.

The product expands the selection of online retailers for SHAZAM debit cardholders and allows transactions at brick-and-mortar merchants that accept signature debit transactions, like restaurant, car rental companies and hotels.

“Our financial institution participants understand the importance of increasing PIN debit transactions in a post-Durbin world,” Hollinger said. “SHAZAM will be enhancing PIN processing though support of EMV chip and PIN technology and the dual-message PIN system technology. This will give debit cardholders more options, more security, and overall, more reasons to choose their SHAZAM card over any in their wallet.”

With the new product, merchants and financial institutions can use the SHAZAM PIN debit brand to lessen the cost of the Durbin Amendment. It also enables them to integrate network routing alternatives allowed by the new federal rules.

For routing purposes, dual-message PIN transactions are considered PIN transactions and will follow SHAZAM's operating rules. The Fed has not set interchange rates for dual-message transactions.

“Both the issuing and acquiring communities are facing tough decisions in the wake of Regulation II and an anticipated shift to chip-and-PIN to support EMV,” Hollinger said. “SHAZAM understands the need to be aggressive in supporting these changes, as well as other authentication technologies.”

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