Visa Inc. and PULSE, Discover Financial Services’ PIN-debit network, last week reached an agreement to enable financial institutions that issue EMV debit cards on both the Visa and PULSE networks to use Visa’s common debit solution, according to a joint announcement.
Visa’s common application identifier (AID) supports U.S. debit regulations requiring the ability to route transactions over multiple, unaffiliated networks.
A common debit solution shared among all participants will help to accelerate EMV chip adoption in the U.S. and provide a uniform platform that will enable network innovation.
Also last week, Fiserv struck similar deals with both Visa and MasterCard.
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