CO-OPFinancial Services, SHAZAM and eightother debit network providers have formed an association to createa common debit chip solution to maintain an open and competitivedebit network marketplace.

The Debit Network Alliance will work to ensure equal access toEMV chip technology under terms supporting competition, networkchoice, innovation, and delivery of value to network participants;promote shared governance of common debit AIDs, including how theunderlying technology is configured on the chip and the terminal,and

build support for all CVMs, both existing and future, as well asaccess to technology that supports future innovation.

“The formation of the Debit Network Alliance is a continuationof the great cooperation that the founding networks have had sincecoming together in April 2012. We believe that debit chip solutionsin the U.S. must be governed by all U.S. debit networks, in amanner that benefits industry stakeholders and supports the levelsof flexibility and innovation necessary to maintain a healthy androbust U.S. payment system,” said

Paul Tomasofsky, Executive Director of Debit Network Alliance.“The Debit Network Alliance is ready to work with all paymentnetworks to define business terms, technical requirements and legalagreements required for industry stakeholders to realize thebenefits of a single, common standard. Once these are in place, theindustry can truly move forward with EMV in the U.S.”

In addition to CO-OP and SHAZAM, the other eight networksinclude AFFN, ATH, NETS, NYCE, Presto!, PULSE and STAR.

“Formation of the Debit Network Alliance further advances acommon U.S. debit AID (application identifier) and its harmonizedprofiles and parameters,” commented Stan Hollen, CEO of CO-OPFinancial Services. “This is extremely important to credit unionsbecause it preserves their routing and network choices inconnection with the emerging EMV standard. As one of 10 founders ofthe Debit Network Alliance, CO-OP has actively represented theinterests of credit unions, and we will continue to help drive thenext steps, both in governance and deployment, of the common U.S.debit AID.

“While the common U.S. debit AID provides interoperable adoptionof chip and PIN debit payments to the entire industry, this willstill take time, particularly in light of the recent judicialproceedings concerning the Durbin Amendment,” Hollen added. “CO-OPencourages all PIN debit network providers to join Debit NetworkAlliance in order to move the industry forward in a collaborative,standardized way.”

“The formation of DNA represents a significant investment by thecountry's leading debit networks. As a founding member of the newcompany, SHAZAM was been honored to have a strong voice in thecreation of a structure for the governance, deployment andimplementation of the EMV debit standard,” said Terry Dooley,senior vice president and chief information officer at SHAZAM. “Mycolleagues and I are ready to put in the work to ensure thecountry's eventual implementation of EMV provides issuer choice,merchant choice, a competitive environment and the ability tocontinue a long history of innovative product development for thepayments industry.”