Tuesday, February 05, 2013 — 10:46:45 (EST)
Shazam publishes EMV specifications for U.S. migration
Des Moines, Iowa, Feb. 5, 2013 — In preparation for the U.S. migration to EMV, the SHAZAM network has released its chip-and-PIN or EMV network specifications to all of its industry partners.
“By publishing our network’s required changes early, SHAZAM’s goal is to ease the development efforts of issuers, acquirers and merchants in the industry,” said SHAZAM Senior Vice President Dan Kramer. “As the U.S. moves toward EMV implementation, SHAZAM certification requirements will be very straightforward and closely aligned with existing certification requirements.”
As well, SHAZAM is helping lead the development of a common U.S. application identifier (AID). “We are fully committed to a common solution,” said Terry Dooley, SHAZAM senior vice president and CIO. “A priority for us is working with all industry stakeholders on the enhancement of the terminal selection process to provide network choice at the time of the transaction.”
SHAZAM will soon publish an EMVCo-certified CCD-compliant application, as well as EMV card profile specifications.
According to Kramer, SHAZAM is actively participating in a number of industry groups, leading discussions on how best to implement this new payment technology. These groups include the Secure Remote Payments Council, SmartCard Alliance, EMV Migration Forum, Merchant Advisory Group and EMVCo.
“It’s essential for the U.S. payments system to maintain the flexibility and interoperability enjoyed today by our country’s issuers, processors, networks and merchants,” said Kramer.
The SHAZAM network was founded in 1976 and is one of the last remaining member-owned and -controlled EFT networks and processors in the industry. SHAZAM provides innovative and state-of-the-art EFT services to community financial institutions in 33 states. SHAZAM is a single source provider for ATM processing, debit and ATM card processing, card authorization services, merchant processing, Automated Clearing House (ACH) services, and information security solutions.
Source: Company press release.
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