DEBIT NETWORK ALLIANCE TO CONCLUDE OPERATIONS

Pearl River, New York (March 30, 2021) — The Debit Network Alliance LLC (DNA), a collaborative group of national debit networks working together since 2013, today announced it will conclude operations.

The DNA networks, AFFN®, ATH®, NYCE®, CULIANCE®, Presto!®, and SHAZAM®, along with other networks, joined together with the goal of ensuring the US Payments system maintained interoperable adoption of chip technology for debit payments, while supporting security, innovation, and optimal technology choice.

”At a time when payments technology evolved quickly, the Debit Network Alliance established a common platform to inform and educate its members, the payments industry, U.S. government regulators and legislators on industry trends, challenges, and opportunities, “Said Paul Tomasofsky, Executive Director of DNA. “Collaboration among competitors helped standardize Chip technology through the use of the Common AID to maintain competition, choice and flexibility for banks and credit unions, ATM acquirers, retailers, and most importantly, cardholders.”

While the DNA group formed as chip technology was introduced in United States, its efforts provided world-class education around routing choice and best practices for use of the EMV chip technology on debit cards. Later, the group provided payments guidance on contactless, tokenization, card-on-file, and card-not-present debit cards.

DNA’s Chairman, SHAZAM’s COO Terry Dooley said, “As 2021 enfolds, there are a myriad of challenges facing the industry and the economy as the result of the COVID-19 Pandemic,” Dooley went on to cite the value of collaboration and cooperation among competitive debit networks in the US. “The DNA established relationships that we are committed to leveraging and maintaining as new issues arise in the industry.” Dooley said. “We’ve proven that when the industry agrees to standards, competition is preserved, innovation is encouraged, and the reliability of the payments system is insured.”

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