In this video, we explore the EMV® Specifications that are helping to support secure, convenient and reliable online transactions, worldwide.
Consumers expect a payment device to work anywhere in the world, whether in-store or online. The process must be familiar, convenient and reliable for the consumer or business making the payment, and for the merchant accepting it.
Recently, lockdowns and social distancing regulations have changed the way we shop and driven a significant increase in demand for online commerce. In fact, global e-commerce sales for 2021 are forecast to reach $4.2 trillion by the end of the year.[1]
EMVCo has worked with extensive participation from the wider payments community to develop and enhance specifications that support the growth of secure online commerce. This includes:
- EMV 3-D Secure (EMV 3DS)
- EMV Secure Remote Commerce (EMV SRC)
- EMV Payment Tokenization
These are all designed to be flexible and can be adapted regionally to meet national payment requirements and accommodate local regulations, helping to support the continued growth of online commerce worldwide.
These specifications can be used separately or together. The complementary nature of the specifications is something EMVCo is actively working on.
Watch this webcast to find out more about how these three specifications support safe and convenient online payments.
[1] Forbes, Global E-Commerce Sales To Hit $4.2 Trillion As Online Surge Continues, Adobe Reports, April 2021
by Oliver Manahan
by Simon Kleine