In an effort to enhance the security and interoperability of online payments, FIDO Alliance, W3C and EMVCo announced the development of the Web Payment Security Interest Group. The initiative will enable organizations to collaborate on closing gaps that hinder compatibility among different web payment technologies, according to an April 17 press release.
"FIDO Alliance, W3C, and EMVCo develop complementary technologies that can enhance the security and convenience of web payments," said Karteek Patel, chair of the EMVCo Executive Committee. "This group has been created to better understand and shape the future of secure web-based payments, and ensure alignment on the work of the three technical bodies. EMVCo looks forward to productive discussions and ultimately, increased interoperability for web payments."
With the focus of establishing a vision for web payment security, the new interest group will serve as a compliment to existing discussions, providing increased insight around how to improve EMV Secure Remote Commerce (SRC), EMV 3-D Secure (3DS), FIDO Alliance's FIDO2 specifications, and W3C's Web Authentication and Payment Request APIs.
"W3C's authentication and payments standards are part of the bigger story of the transformation of the payments industry," said Jeff Jaffe, W3C CEO. "The transformation will continue in unpredictable ways as the web adds new services such as streaming video, real-time communications, and augmented reality. This Interest Group will help ensure that new payment models for these services will have security as a fundamental requirement."