REDWOOD CITY, Calif., July 05, 2023 (GLOBE NEWSWIRE) -- Changes to Regulation II are now in effect, requiring debit card issuers to enable a minimum of two unaffiliated networks to process all debit card payments, including card not present (CNP) transactions. Today the U.S. Payments Forum announces a new resource, published June 30th, 2023, that explores the technical and operational impacts of the July Reg II update on various industry stakeholders, including merchants, acquirers, processors, payment networks and issuers.
The white paper, “Regulation II Clarification for Debit Routing” is available to interested parties free of charge on the Forum’s website.
The resource was created through the collaborative efforts of payments industry professionals to benefit stakeholders within the U.S. market. Reg II only applies to the U.S. and its territories, and only U.S.-issued debit cards that are within the scope of the regulation. The paper focuses on CNP use cases and associated technologies and processes, such as tokenization and card-on-file transactions.
The following implementation considerations are explored in the Forum’s resource, among others:
- Merchants: debit transaction enablement; routing options available for accepted cards; message specifications and authorization message indicators; process and processing software changes.
- Acquirers/processors: education for and communication with merchants on CNP transaction routing options; test scripts for different use cases; routing of CNP debit transactions to the appropriate network.
- Networks: certification of CNP transaction features with acquirers/processors; routing file changes; issuer support for adding CNP transaction support for BINs not previously supporting CNP transactions in a second unaffiliated network.
- Issuers: choice of an unaffiliated debit network partner; implementation and testing of systems, processes, transaction volume, and reporting changes to support CNP debit transactions with the chosen partner and with other downstream issuer systems.
This white paper was developed by the Debit Routing Working Committee. Organizations, associations, government agencies and individuals interested in participating in the creation of future white papers are encouraged to visit the Secure Technology Alliance’s website to learn how to get involved with the Forum. By joining, members will also have access to broader activities within the Alliance and its affiliated organizations, including the U.S. Payments Forum. For membership levels, benefits and the application, visit: https://www.securetechalliance.org/membership-information/
About the U.S. Payments Forum
The U.S. Payments Forum is a cross-industry body that brings stakeholders together on neutral ground to enable efficient, timely and effective implementation of emerging and existing payment technologies. This is achieved through education, guidance and alternative paths to adoption. The Forum is the only non-profit organization whose membership includes the whole payments ecosystem, ensuring that all stakeholders have the opportunity to coordinate, cooperate on and have a voice in the future of the U.S. payments industry. The organization operates within the Secure Technology Alliance, an association that encompasses all aspects of secure digital technologies.
About the Secure Technology Alliance
The Secure Technology Alliance is the digital security industry’s premier association. Through its U.S. Payments Forum, Identity and Access Forum and its collaborative working groups, the Alliance fosters open dialogue among industry stakeholders to explore and develop secure technology innovations in the payments, identity and access markets. By collaborating on education and guidance, the Alliance helps enable efficient, timely and effective implementation of large-scale, disruptive technologies. For more information, please visit https://www.securetechalliance.org.
Contact
Sherlyn Rijos-Altman
Montner Tech PR
203-226-9290
srijos@montner.com
