In this post, Soumya Chakrabarty, Chair of the EMVCo Board of Managers, reflects on a landmark 2024 and explores EMVCo’s key initiatives for 2025.
2024 represented a significant milestone for EMVCo, marking 25 years since the organisation was first formed in 1999. While EMVCo and EMV® technology have come a long way since, its core mission remains the same: To facilitate the worldwide interoperability of secure payment transactions by developing and publishing the EMV Specifications and their related testing processes.
As we reflect on the past year and look ahead to 2025 and beyond, this mission continues to be fundamental in enabling payments innovation globally:
Removing friction from electric vehicle (EV) charging payments
One key emerging use case EMVCo is investigating is how EMV technology can help make electric vehicle (EV) charging payments easier than paying for gas.
Following the launch of the Electric Vehicle Open Payments (EVOP) initiative in late 2023, EMVCo has been exploring how wide adoption of the ISO 15118 Standard – which specifies a digital communication protocol between the EV and the charging station – could enable a simple, secure and seamless card-based open payment experience for EV drivers across charging networks.
By enabling payment and cryptographic data to be exchanged automatically without direct user interaction, an EMV open payments approach would allow cardholders to pay for charging at different merchants without first needing to establish a prior relationship (such as downloading a proprietary application). This means EV drivers can trust they will be able to charge their vehicle anywhere, while merchants can trust they will be paid.
2025 will see continued collaboration with payments and EV industry stakeholders, with advances to the EMV Specifications expected.
Advancing EMVCo Approvals and Evaluations
EMVCo is committed to ensuring the testing infrastructure evolves to support new ways of paying.
In 2024, EMVCo published a dedicated reduced range approval process to promote a better experience when consumer and enterprise devices are used to accept contactless payments – known as TapToMobile. In addition, a terminal type approval process for the new EMV Contactless Kernel Specification was launched to support the evolution of contactless and mobile payments and simplify global acceptance.
EMVCo also achieved ISO/IEC 17065 accreditation for its security evaluation processes. This new status as an accredited certification body recognises the value and quality of EMVCo security product evaluations in enabling the deployment of safe and secure payment solutions.
EMVCo will continue to build on its proven industry role to enhance the security, performance and interoperability of payment solutions both in-store and online.
Enhancing the checkout experience
In 2024, EMVCo published an interactive white paper to help optimise the EMV 3-D Secure (3DS) payment authentication experience.
The EMV Secure Remote Commerce (SRC) – Click to Pay Customer Experience (CX) Guidelines were also released to support a consistent checkout experience with Click to Pay solutions based on the EMV SRC Specifications. The consistent approach outlined in the guidelines aims to promote consumer trust by ensuring the payment process is easy and familiar.
As purchasing experiences and technology continue to evolve, EMVCo is focused on supporting new regulatory requirements and the technical trends shaping our industry to ensure frictionless yet robust authentication that is compatible with the existing payment infrastructure.
A commitment to collaboration and engagement
The invaluable contributions of all EMVCo participants – past and present – have been integral in shaping the development of the EMV Specifications over the course of three decades.
In 2024 alone, we saw extensive engagement with EMVCo Associates and Subscribers at 11 EMVCo meetings, with hundreds of stakeholders joining us across the globe – including guest speakers from Allthenticate, Australian Payments Network, Broadcom, Cartes Bancaires, CharIN, Commonwealth Bank, Merchant Advisory Group, Merchant Risk Council, Nexi Group, Netcetera, Pan Nordic Card Association, SIBS and TotalEnergies. EMVCo representatives also connected with stakeholders at 15 industry conferences.
Our focus on supporting innovation across the payments industry is only possible due to this ongoing collaboration. EMVCo has confirmed the following meetings for 2025, and we encourage all interested stakeholders to get involved:
- Board of Advisors Meeting, 4-6 March 2025, Athens, Greece
- Technical Meeting, 7-10 April 2025, Bangkok, Thailand
- EMV User Meeting, 10-11 June 2025, Osaka, Japan
- Board of Advisors Meeting, 21-22 October 2025, Charleston, USA
- Technical Meeting, 17-20 November 2025, Vienna, Austria
by Oliver Manahan