Regional and global technical bodies, and industry associations, collaborate with EMVCo to work to align industry requirements and initiatives that improve security and payment experiences worldwide. EMVCo Queries, whereby an Associate, Subscriber or member of the public may ask a question or provide a comment or other input related to an EMV specification or draft specification.Voting by EMVCo Advisors to approve the release of new/ or major updates to EMV Specifications.The release of all EMV Specifications during their development for public consultation.Request for comments enabling EMVCo Associates to review proposals, and a Disposition of Comments being published to summarise the responses.
Business and Technical Special Interest Meetings (SIM) when new specifications are being developed or major updates are being considered.Ways to participate in the specification development process include: Through the EMVCo Associates and Subscriber Programmes, merchants, issuers, acquirers, payment networks, financial institutions, manufacturers, technology providers and testing laboratories contribute their knowledge and expertise to the development of EMV Specifications. Payments industry stakeholders provide input and feedback to EMV Specifications and supporting programmes and can vote on whether a specification is ready for official publication through participation on EMVCo’s Board of Advisors.Īctive engagement and collaboration with the payments industry is key to EMVCo’s proven model for creating, evolving and promoting globally adopted specifications that support innovation and address marketplace needs. The EMVCo Executive Committee, composed of member organisation representatives, provides guidance on EMVCo’s long-term strategy. EMVCo is managed by the Board of Managers, which is comprised of two representatives from each of the member organisations. View Quick Resource: Why EMVCo? How does EMVCo operate?ĮMVCo’s work is overseen by six member organisations-American Express, Discover, JCB, Mastercard, UnionPay, and Visa- which recognise a shared responsibility for the reliability and security of payment transactions and the technology infrastructure that makes them possible. Watch the introduction to EMVCo animation View Quick Resource: Introduction to EMVCo Who is EMVCo?ĮMVCo is a global technical body that facilitates worldwide interoperability and acceptance of secure payment transactions by managing and evolving the EMV Specifications and related testing processes.ĮMVCo was formed in 1999 to enable the development and management of specifications to address the challenge of creating global interoperability amongst different countries and to deliver the adoption of secure technology to combat card fraud, while enabling innovation in the payments industry.ĮMVCo is collectively owned by American Express, Discover, JCB, Mastercard, UnionPay and Visa. EMVCo does not mandate or enforce EMV compliance or the implementation policies for issuers, merchants, and acquirers, which are handled by payment networks independently outside of EMVCo. If a criminal intercepts data from a chip card's transaction, the data cannot be reused to make another purchase.EMVCo manages and evolves EMV Specifications and supporting testing programmes that enable card-based payment products to work together seamlessly and securely worldwide.Īs an organisation striving to facilitate a payments infrastructure that is standardised in terms of security and interoperability, EMVCo plays an important role in bringing together stakeholder interests among payments industry participants.ĮMVCo, however, does not establish obligations, requirements, or otherwise for the implementation of its specifications. EMV cards also contain an integrated circuit chip, which encodes every transaction differently. POS terminals that meet EMV standards typically require the cardholder to use a personal identification number (PIN) rather than providing a signature, which adds an additional layer of security.