Press

The SHAZAM Network prepares for EMV with MasterCard common debit solution

DES MOINES, IA (July 22, 2014) —  The SHAZAM Network today announced an agreement to make the MasterCard EMV debit solution available to all of its participants.

EMV chip card adoption will decrease card fraud and increase transaction security. This agreement provides all SHAZAM Network participants with EMV licenses for MasterCard products, helping to achieve the goal of a more secure U.S. payments environment.

“The objective of our collaboration with MasterCard was to provide merchants and issuers routing choice for contact and contactless payments supporting PIN, signature or no cardholder authentication,” said SHAZAM CIO Terry Dooley.   “We’re confident this objective has been accomplished through the agreement we’ve reached with MasterCard.”

“Through this agreement the SHAZAM Network and MasterCard have taken another step to advance the U.S. migration to EMV,” said Carolyn Balfany, SVP of Product Delivery – EMV, MasterCard “By streamlining the complexity of EMV implementation, we can advance greater debit card security.”

About SHAZAM
The SHAZAM Network was founded in 1976 and is one of the last remaining member-owned and -controlled electronic funds transfer (EFT) networks and processors in the industry. SHAZAM provides innovative EFT services to community financial institutions throughout the United States. SHAZAM is a single-source provider of the following services: core, risk management, card, ATM, marketing, merchant, mobile, and automated clearing house (ACH). To learn more, visit shazam.net. 

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