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.”
###
|