This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

FIS Fosters US EMV Adoption With Visa Agreement

FIS™ (NYSE:FIS), the world’s largest provider of banking and payments technology, and its NYCE® Payments Network today announced a licensing agreement to make the Visa ® EMV ® debit solution available to all NYCE participants.

This agreement furthers the U.S. payments industry goal of EMV adoption and is NYCE’s first formal EMV license, which can be used by NYCE Network participants with respect to Visa card products. Fundamental to the agreement is the support of key NYCE participant business flexibilities, including portability between debit networks for issuers, routing choice for merchants at the point of sale and issuers at NYCE ATMs. At the same time, it ensures that NYCE will have access to Visa EMV technology in perpetuity to support NYCE clients and NYCE will be able to support transactions using all authentication types.

“EMV deployment is at a critical point in its business adoption in the U.S. and carries the promise of significantly reducing card-based fraud. Our challenge has been deploying EMV solutions in the U.S. without disrupting the business goals of any industry participant,” said Bob Woodbury, SVP and general manager, FIS Payments Networks. “This agreement will now enable us to offer this Visa-NYCE solution to all NYCE participants and will complement FIS’ substantial EMV card production and EFT processing capabilities.”

“NYCE’s participation in Visa’s common debit solution marks an important milestone in the industry’s efforts to adopt chip technology in the U.S.,” said Bill Sheedy, executive vice president of Corporate Strategy and Government Relations, Visa Inc. “With the uncertainty of how to enable debit routing on EMV chip effectively resolved, issuers, acquirers and merchants can move forward in their implementations with confidence.”

FIS has vast experience issuing EMV cards worldwide, and its work in migrating financial institutions and payments systems to EMV compliance make it a leading partner for bringing smart cards to the United States. FIS was a founding member of the Debit Network Alliance (DNA), already supports EMV card production and processing, and is launching EMV-based payment mechanisms that support overseas travel and personalization of debit and credit cards. FIS also teaches financial institutions nationwide how to develop cost-effective strategies for smart card migration. In addition, NYCE is a member of the steering committee for the EMV Migration Forum of the SmartCard Alliance and chairs the DNA.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,654.77 +369.26 2.27%
S&P 500 1,987.66 +47.15 2.43%
NASDAQ 4,812.7080 +115.1720 2.45%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs