EMVCo recently outlined its technical priorities for 2021 and remote payments factors heavily in its plans. The consortium, which is owned by the four major U.S. payment card networks, Union Pay and JCB, sets specifications and standards for the payment community. For remote payments in 2021, EMVCo will be focused on technical standards that can enhance security and make e-commerce even more convenient.
According to a blog post on EMVCo’s website, the group will be prioritizing authentication with its plans to publish the latest update to the EMV 3-D Secure specification. Version 2.3 will feature a split SDK that enables most of the solution’s functionality to reside on the merchant’s server—making updates much simpler.
The company also will be looking at ways to combine the security of EMV 3DS with the universal online payment capabilities of Secure Remote Commerce, which hopes to enable merchants to use a single payment button on checkout pages no matter what card brand a user is making a purchase with.
“EMVCo’s role is to define and develop capabilities in specifications that support the needs of the payment community. This requires a secure and innovative approach to enable choice and flexibility,” the company said in the post. “Testing and certification programs bring further confidence, trust and integrity to the payment ecosystem.”
