This framework addresses the fundamental challenge faced by the U.S. debit payments industry: how to implement EMV for debit cards with the flexibility to meet compliance guidelines established by the Federal Reserve.
The EMV Migration Forum is providing the U.S. debit payments industry with help towards the EMV chip technology with the release of a technical EMV debit framework, according to a press release.
“The solution provides an approach for the debit card processing scenarios we know of today, so debit industry organizations can continue on the way to chip implementation with confidence,” Randy Vanderhoof, director of the EMV Migration Forum said. “Overcoming chip migration challenges impeding faster adoption is a priority for the EMV Migration Forum, and the release of this technical proposal reflects the expertise, commitment and collaboration of our cross-industry membership over the last several months.”
The technical proposal includes:
Those who are interested in adopting this EMV debit solution can use the framework to build their own detailed specifications. The company asks industry stakeholders to work with their vendors and payment brand partners on implementation questions.
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