RANCHO CUCAMONGA, Calif., February 28, 2014 - On Wednesday two business partners of CO-OP Financial Services - Visa and First Data (STAR Network) - announced an agreement to share Visa's common debit solution offering issuers, acquirers and merchants an approach for debit EMV chip adoption.
The following is CO-OP's comment on this industry development,
which the company provided to its clients on February 26,
"Like STAR, CO-OP is among the leading PIN debit networks in the Debit Network Alliance working to provide a structure for the common deployment and implementation of the debit EMV standard. One of the ways this can be accomplished is through agreements with other networks, such as the Visa-STAR agreement.
"Many of CO-OP's clients are STAR participants and CO-OP supports STAR's agreement with Visa. CO-OP is also actively working to provide similar functionality in the marketplace. We think this is a win-win for the industry."
For more information contact Bill Prichard, 800-782-9042, ext. 3450, and firstname.lastname@example.org, or consult CO-OP's EMV Resource Center under Solutions/Card Payments at www.co-opfs.org.
About CO-OP Financial Services
Based in Rancho Cucamonga, Calif., and founded in 1981, CO-OP Financial Services is the nation's largest credit union service organization in terms of number of credit unions, assets and members. The company helps credit unions thrive by providing products and services that make it more convenient for members to do business with them. With a motto of "Be There. Be More," CO-OP's products fall into three business lines, including "Locations," (ATM, shared branching and call center services); "Card Payments" (debit and credit processing) and "Mobile/Virtual" (mobile, online, check imaging, bill pay services). To learn more visit www.co-opfs.org.