A non-volatile memory device determines, based at least partly on a first multi-bit device address received via a signaling interface and an incoming chip-select signal, whether the device is to participate in a memory access transaction by receiving or outputting data via an I/O node of the signaling interface. Based at least in part on that determination, on-die termination circuitry within the non-volatile memory device switchably couples or decouples a termination resistance between the I/O node and a supply voltage node during a data transmission phase of the memory access transaction.