" class="no-js "lang="en-US"> Payment Industry Collaborates with EMVCo to Address the Complexities of Remote Payments - Fintech Finance
Wednesday, September 27, 2023

Payment Industry Collaborates with EMVCo to Address the Complexities of Remote Payments

Technical body welcomes eight new organisations to its Associates Programme

As EMVCo addresses the rapid growth of remote payments globally through its payment tokenisation, 3-D Secure, secure remote commerce, and mobile and security initiatives, industry stakeholders have responded by joining its Associates Programme. EMVCo today announces that eight new organisations have joined the programme in the past twelve months to play an active role in the strategic and technical direction of the EMV® Specifications.

TÜV SÜD, TRUXTUN Capital, NTT DATA, CTC Advanced GmbH and Ant Financial have joined the programme as Technical Associates. These organisations have the opportunity to provide input to, and receive feedback on detailed technical and operational issues connected to the EMV Specifications and related processes.

Conexxus has joined as a new Business Associate. Participation at this level is available to organisations with direct responsibility for an EMV transaction at any point in the transaction lifecycle. These companies can provide input on strategic and business topics related to the use of the EMV Specifications.

Stripe and WIBMO have joined the programme in both a Business and Technical Associate capacity.

Cheryl Mish, Chair of the EMVCo Board of Managers, comments: “The expansion of EMVCo’s scope over the past five years from exclusively developing EMV Chip Specifications to also supporting remote payment transaction environments mirrors the growing appetite from the payments community for a common, global acceptance infrastructure. The engagement of EMV stakeholders in the Associates Programme is not just desirable, but fundamental to EMVCo. As the adoption of EMV Specifications continues to increase, we encourage interested stakeholders to join the programme to help advance the global interoperability of digital and e-commerce payments, while supporting cardholder authentication and enhancing transaction security.”

So far this year, EMVCo has already announced the launch of the EMV® Payment Tokenisation Specification – Technical Framework v2.0, two QR Code payment specifications that support merchant-presented QR Code and consumer-presented QR Code use cases, the EMV® 3-D Secure – Protocol and Core Functions Specification v2.1.0 and most recently, the EMV® Secure Remote Commerce (SRC) – Technical Framework version 1.0.

The EMVCo Associates Programme allows the broader payments community including card or terminal manufacturers, processors, banks, payment systems, mobile network operators, transaction processors and merchants to play an active role in the strategic and technical direction of EMVCo. The Programme welcomes global payment industry stakeholders to contribute their knowledge and expertise to the EMV Specifications and ensure their long-term requirements are considered.

EMVCo also offers a Subscriber Service, which enables organisations to receive access to advance information regarding new developments and draft documents, while having the opportunity to provide feedback and input on the work of EMVCo.

Visit the EMVCo website for further details on the EMVCo Associates Programme and how to join.

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