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Michigan Credit Union League

CO-OP Advises CUs to Remain Cautious on EMV Deployment Until 2014

CO-OP Financial Services supports and voted in favor of the Secure Remote Payment Council Chip and PIN Workgroup’s agreement on a common U.S. debit AID and application for EMV deployment, announced by SRPc. EMV is Europay, MasterCard and Visa.

“Adoption of this common U.S. debit AID (short for application identification) and application is extremely important to credit unions because it preserves their routing and network choices in connection with the emerging EMV standard,” CO-OP Financial Services President/CEO Stan Hollen said. “As a founding member of the Workgroup, CO-OP has actively participated in the SRPc to represent the interests of credit unions and we will continue to help drive next steps, both in governance and deployment of the common U.S. debit AID and application.


“While this solution simplifies efforts for the industry, commercialization will take time,” Hollen added. “Given that EMV is being driven by liability shifts, not regulatory or network mandates, we recommend that issuers wait until 2014 before moving forward with their business case for EMV deployment in order to ensure that the market is ready.


“In the coming months, CO-OP will be providing guidance to our client credit unions in the form of multiple tools to help them determine their own roadmap for EMV. This will include tactical advice on upgrading ATMs, issuing debit cards with the common AID, what to do about credit, how to calculate the economics of switching to EMV and related fraud trends,” Hollen concluded.


The Chip and PIN Workgroup’s agreement was announced in an SRPc news release, which additionally stated, “The Workgroup will also evaluate enhancing the specification’s security by including the one-time card number technology developed by First Data/STAR specifically to mitigate impact from skimming and data breach frauds.”


CO-OP will host a free webinar on Tuesday, March 26, at 11 a.m. Pacific time on the latest developments concerning the EMV (Europay MasterCard Visa) standard. Those who would like to attend can register at
The SRPc is a trade association focused on security standards for Internet- and mobile-based payment methods, including EMV. For more information on EMV, visit and CO-OP’s “Ask the EMV Expert” page at And, to register for the free webinar, visit
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