SAN FRANCISCO--(BUSINESS WIRE)--Nov. 22, 2016--
Visa (NYSE:V) today modified and clarified existing debit network
routing rules to help merchants and acquirers better understand
implementation options related to the adoption of EMV chip technology in
the U.S. The modifications and clarifications follow new guidance
recently issued from the Federal Reserve and address a Federal Trade
With Visa chip cards, debit routing and processing are enabled by two
payment application identifiers (AIDs) on the chip – the U.S. Common
Debit AID or the Visa Debit AID. The Common Debit AID can support any of
the more than one dozen domestic debit networks that issuers can choose
to offer in addition to Visa Debit. This provides merchants with the
ability to select the network over which a debit transaction is
processed or routed.
Visa is providing additional clarification that merchants can use the
Common Debit AID exclusively to route U.S. debit transactions if they
choose. Merchants are also not required to ask the cardholder to choose
the AID or network for processing debit transactions. Merchants can
continue to automatically ask, or prompt, a Visa cardholder to enter a
PIN on in-person transactions, provided the cardholder can still use
their card without a PIN if they prefer.
Additional information and supporting materials for merchants and
processors can be found at www.visachip.com.
About Visa Inc.
Visa Inc. (NYSE:V) is a global payments technology company that connects
consumers, businesses, financial institutions and governments in more
than 200 countries and territories to fast, secure and reliable
electronic payments. We operate one of the world's most advanced
processing networks — VisaNet — that is capable of handling more than
65,000 transaction messages a second, with fraud protection for
consumers and assured payment for merchants. Visa is not a bank and does
not issue cards, extend credit or set rates and fees for consumers.
Visa's innovations, however, enable its financial institution customers
to offer consumers more choices: pay now with debit, pay ahead of time
with prepaid or pay later with credit products. For more information,
View source version on businesswire.com: http://www.businesswire.com/news/home/20161122005280/en/
Source: Visa Inc.
Connie Kim, +1 212-521-3962
Chu, +1 415-805-4124