TALLAHASSEE, Fla.—CU24 reported it has entered into a licensing agreement with MasterCard to enable EMV card transactions to route over the CU24 network.
“With the MasterCard U.S. common application identifier (AID) in place, CU24 credit union MasterCard debit cards can be accepted and routed by merchants with the full advantages of EMV secure technology, while complying with the routing requirements under the Durbin amendment,” CU24 said.
“With this agreement in place for MasterCard-branded cards, we ensure that our credit unions can smoothly transition to a more secure payments environment along with the rest of the financial services industry, thereby helping them to compete and improve their members’ lives,” said Mansel Guerry, CU24 president and CEO.