PYMNTS
NOVEMBER 23, 2016
The company said that, with the chip cards, routing and processing of debit transactions are made possible across two payment application identifiers (AID) that are contained on the chip. Common Debit AID and the Visa Debit AID. Debit option allows for more secure transactions while charging merchants less than the Visa network.
PYMNTS
NOVEMBER 14, 2019
FTC Probing Visa, Mastercard About Debit Card Practices. The Federal Trade Commission (FTC) is talking to large merchants to discover if some retailers are being blocked from routing digital payments over alternative debit networks, sources told Bloomberg.
PYMNTS
MARCH 10, 2017
For more than 30 years, INTERAC has been Canada’s debit network facilitating secure financial transactions. banks operate the rails because it’s their assets that these rails will move, but it’s still up for the debate if ownership lies with the clearinghouses, the Fed or even the card networks. FIs in the U.S.
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