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MasterCard opens EMV service to other US debit networks

Global payments and technology firm MasterCard has made its market-ready debit technology available to other US debit networks, to support EMV transactions and strengthen its support to advance the future of electronic payments in the country.

The new technology offering will allow acquirers such as merchants and processors to brand transactions originating from the Maestro AID (application identifier) for all debit networks within the US.

MasterCard North America president Chris McWilton said, "This will allow financial institutions to begin issuing EMV cards across their portfolios immediately, rather than waiting for a new solution to be developed."

It will also facilitate acquirers to draw their terminal plans, allowing them to further optimize investments, simplify certification processes and select routing of debit transactions.

MasterCard manages the fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in over 210 nations and territories.