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EMV Migration Forum Statement on the Recent Overturning of the Federal Reserve Implementation of the Durbin Amendment

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EMV Migration Forum Statement on the Recent Overturning of the Federal Reserve Implementation of the Durbin Amendment

Recently, a federal court overturned the Federal Reserve’s implementation of the Durbin Amendment.  Since then, there have been many questions about its possible impact on the ongoing migration to EMV chip technology in the United States.

The EMV Migration Forum would like to address the ruling and its potential impact on the Forum and its activities.

The court ruling may lead to further changes in debit routing requirements from the previously defined requirements in the Federal Reserve’s final rules.  However, at this time, it remains unclear how the court’s ruling will impact the migration to EMV, if at all.

The reasons behind the migration to EMV in the United States remain the same: to enhance security, reduce fraud, ensure global interoperability and lay the foundation for future innovation in payments.  These enormous benefits will be realized by the United States and its entire payments infrastructure, and are more far-reaching than any current debit issues.

Likewise, the goals of the EMV Migration Forum remain the same: to address issues that require broad cooperation and coordination across the payments space in order to successfully introduce secure EMV technology in the United States.

Over the past year, the Forum’s 145 member organizations representing all payments stakeholders – global payment brands, financial institutions, merchants, processors, acquirers, regional debit networks, industry suppliers and industry associations – have come together and have made tremendous progress in providing recommendations and best practices for EMV migration, and tackling real challenges on the path to EMV.

One of these well-documented challenges had been the complexities of current debit routing requirements with EMV, a challenge that the Forum took on and reached consensus on a path forward.

If the regulatory environment does change and there are additional requirements for debit routing, the Forum will continue to be responsive and provide a platform for all stakeholders to work together to streamline how best to implement technology and processes to meet requirements.

Today, we are continuing our numerous Forum projects and meetings and are looking forward to a successful second year as an organization.

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About the U.S. Payments Forum

The U.S. Payments Forum is a cross-industry body focused on addressing issues that require broad cooperation and coordination across many constituents in the payments industry. The Forum is an affiliated organization of the Secure Technology Alliance, founded in August 2012 as the EMV Migration Forum, and renamed in the U.S. Payments Forum in 2016 to include other new and emerging payments technologies in the United States.

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Session 4: Tuesday, August 12th at 9am PT

Crypto & Stablecoins: Unpacking the Future of Digital Value in Payments

Wrap up the U.S. Payments Forum Summer Education Series with a timely deep dive into one of the most talked-about trends in the financial world: cryptocurrency and stablecoins.

In this final, member-exclusive session, industry experts will demystify the fundamentals of these digital assets and explore their potential impact on the payments ecosystem. From definitions and use cases to regulatory considerations and real-world adoption, this conversation will provide clarity on where crypto fits—and where it’s headed—in mainstream commerce.

If you’re curious about how digital currencies may reshape transactions, settlement, and consumer expectations, this session is your chance to get informed and stay ahead.

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Session 1: Tuesday, June 24th at 9am PT Agentic Payments

Agentic Payments: The Next Evolution in Seamless Transactions

Kick off the U.S. Payments Forum Summer Education Series with a forward-looking conversation on agentic payments—a transformative approach where devices, apps, or digital assistants initiate and complete transactions on behalf of users.

In this member-exclusive session, Visa and Mastercard will share insights into their agentic payment strategies and real-world applications, exploring how AI-driven automation is reshaping customer experiences and the broader payments ecosystem. Joining the conversation is Firmly, a company building the agentic commerce infrastructure powering frictionless AI-native checkout across digital channels.

Moderated by Andrew Gordon from Discover, this discussion will unpack the opportunities, considerations, and future outlook for autonomous commerce.

Moderator: Andrew Gordon, Discover

Panelists: Sukh Dev, Mastercard; Reed Bouchelle, Visa; Kumar Senthil, Firmly

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Session 2: Tuesday, July 8th at 9am PT

Demystifying Tokenization: Protecting Payments in a Digital-First World

Join us for the second installment of the U.S. Payments Forum Summer Education Series, where industry experts from SHAZAM and Mastercard, will break down the complexities of tokenization—a foundational technology for securing modern payment ecosystems.

This members-only session will cover the critical role tokenization plays in reducing fraud, protecting data, and enabling secure digital commerce. Attendees will gain clarity on the different types of tokens—network, acquirer, and card-on-file—and learn when issuer involvement is required, when it isn’t, and why that distinction matters.

Whether you’re building, managing, or modernizing payment systems, this session will equip you with the knowledge needed to navigate tokenization with confidence.

Panelists: Manish Nathwani, SHAZAM; Sukh Dev, Mastercard

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Session 3: Tuesday, July 29th at 9am PT – 90 minutes

Merchant and Issuer Special Interest Group (SIG)

Join industry leaders Joe Vasterling (Best Buy) and Sara Walsh (Bank of America) for the third session of the U.S. Payments Forum Summer Education Series—a collaborative conversation between merchants and issuers focused on solving shared challenges and accelerating innovation. This member-exclusive session offers a neutral space to explore evolving regulations, customer experience expectations, and the adoption of new payment technologies. Whether you’re working to optimize transaction flows, enhance security, or better align ecosystem priorities, this session is your chance to engage directly with peers, exchange insights, and help shape the future of payments.

Led by: Joe Vasterling, Best Buy; Sara Walsh, Bank of America

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