Bank Systems & Technology is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Payments

09:38 AM
Connect Directly
Facebook
Twitter
Google+
RSS
E-Mail
50%
50%

MasterCard, First Data Partner on EMV

The move is designed to accelerate EMV functionality to be implemented across the U.S.

First Data and MasterCard today announced a partnership in which First Data’s STAR payments network will participate in MasterCard’s common U.S. Debit EMV solution.

The agreement will accelerate the ability for EMV functionality to be implemented across the U.S., the companies said.

“This agreement, and other EMV agreements we have recently announced, helps accelerate the migration to EMV adoption, and moves the entire industry a step closer to additional debit payment security,” said Barry McCarthy, president, First Data Financial Services, in a statement.

EMV, the global technology standard for credit and debit card payments named after its original developers (Europay, MasterCard and Visa), features cards with embedded microprocessor chips that store and protect encrypted account user data, in contrast to the magnetic strip cards now used mostly in the U.S.

[Related: Retail EMV Adoption: Eyes Wide Open]

Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio

Register for Bank Systems & Technology Newsletters
Slideshows
Video
Bank Systems & Technology Radio
Archived Audio Interviews
Join Bank Systems & Technology Associate Editor Bryan Yurcan, and guests Karen Massey and Jerry Silva from IDC Financial Insights, for a conversation about the firm's 11th annual FinTech rankings.