FIS and MasterCard Advance US EMV Adoption with Common Debit Solution
*FIS now provides access to MasterCard EMV technology to thousands of NYCE
Network card issuers, merchants and ATM deployers in all 50 U.S. states
*The agreement furthers goals of the U.S. payment industry regarding
widespread EMV adoption and reduction of losses attributable to card-based
JACKSONVILLE, Fla. & PURCHASE, N.Y. -- June 4, 2014
FIS™ (NYSE: FIS), the world’s largest provider of banking and payments
technology, its NYCE® Payments Network and MasterCard today announced a
licensing agreement that will make MasterCard’s ^ EMV debit solution available
to all NYCE participants.
EMV chip card adoption is a common goal of the U.S. payments industry,
designed to increase card transaction security and decrease card-based fraud.
This agreement provides all NYCE Network participants with an EMV license with
respect to MasterCard products and continues the advancement toward a secure
“This agreement not only adds to FIS’ market-leading EMV card production and
EFT processing capabilities, it also advances the adoption of EMV solutions in
the U.S.,” said Bob Woodbury, SVP and general manager, FIS Payments Networks.
“Chip cards offer significant reductions in card-based fraud, and demand for
an industry wide, common sense solution is growing.”
“This is a further step in our commitment to improving U.S. transaction
security through EMV migration,” said Carolyn Balfany, group head, U.S.
Product Delivery, MasterCard. “By reducing the complexity of EMV
implementation, it accelerates the changeover and moves the industry closer to
greater debit security.”
This agreement permits FIS to offer a MasterCard-NYCE solution to all NYCE
participants, bringing full EMV deployment across the U.S. another step
closer. FIS already issues EMV cards worldwide and is working to migrate
financial institutions and payments systems to EMV-compliant solutions.
FIS is the world’s largest global provider dedicated to banking and payments
technologies. With a long history deeply rooted in the financial services
sector, FIS serves more than 14,000 institutions in over 110 countries.
Headquartered in Jacksonville, Fla., FIS employs more than 39,000 people
worldwide and holds leadership positions in payment processing and banking
solutions, providing software, services and outsourcing of the technology that
drives financial institutions. First in financial technology, FIS tops the
annual FinTech 100 list, is 434 on the Fortune 500 and is a member of Standard
& Poor’s 500^® Index. For more information about FIS, visit www.fisglobal.com.
Follow us on Facebook (facebook.com/FIStoday) and Twitter (@FISGlobal).
MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the
global payments industry. We operatethe world’s fastest payments processing
network, connecting consumers, financial institutions, merchants, governments
and businesses in more than 210 countries and territories. MasterCard’s
products and solutions make everyday commerce activities – such as shopping,
traveling, running a business and managing finances – easier, more secure and
more efficient for everyone. Follow us on Twitter @MasterCardNews, join the
discussion on the Cashless Pioneers Blog and subscribe for the latest news on
the Engagement Bureau.
Statements in this release that are not strictly historical, including any
statements referring to beliefs, expectations, projections, or any other
statement regarding events or developments we believe or anticipate will or
may occur in the future, may be “forward-looking” statements made pursuant to
the safe harbor provisions of federal securities laws. There are a number of
important factors that could cause events to differ materially from those
suggested or indicated by such forward-looking statements. These include,
among other things, statements related to FIS’s offering of MasterCard’s EMV
debit solution and other risks detailed in the “Statement Regarding
Forward-Looking Information,” “Risk Factors” and other sections of each
Company’s Annual Report on Form 10-K and other filings with the Securities and
Exchange Commission. These forward-looking statements speak only as of the
date of this release, and neither Company assumes any obligation to update any
Photos/Multimedia Gallery Available:
Kim Snider, 904.438.6278
FIS Global Marketing and Communications
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