March 2, 2017
In November 2016, the Federal Reserve Board published guidance regarding EMV® debit card transaction routing.
With issuers now accelerating their release of chip-enabled debit cards, merchants must take immediate steps to ensure that their POS terminals are configured to not only accept chip-embedded cards but also to preserve their debit transaction routing rights as provided under U.S. law.
The Federal Reserve Board’s guidance affirmed a merchant’s network choice, but it is ultimately a merchant’s responsibility to deploy and optimize their chip-compatible POS terminals. Fortunately, there are several established best practices for configuring POS terminals to enable merchants to take full advantage of the debit network options guaranteed by federal law. Download our White Paper now to understand the full implications of the federal guidance.
If you have more questions about what this federal guidance means for your business, please fill out the contact form to speak with a First Data representative.