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EMVCo LLC, the international organization that maintains the global EMV antifraud standard found on chip payment cards around the world, has introduced a program that enables paying subscribers to receive information about EMV specifications, draft documents and meetings before others can gain access. The program marks the group's first move into subscriptions, a spokesperson for the organization tells CardLine Global. The program launch comes less than two weeks after American Express Co. bought a 25% stake in the 10-year-old group, joining rivals JCB International, MasterCard Worldwide and Visa Inc. (CardLine Global, 4 Feb.) EMVCo introduced the subscription program "to broaden participation in the development work of the organization in order to increase transparency and engagement with the global payments industry," according to a statement. Further clarification about why EMVCo waited a decade to offer subscriptions for certain information was unavailable from the group's board members Thursday. Subscriptions will cost US$750 (584 euros) annually. EMVCo still will make certain documents, including final versions of EMV specifications, available for free. Since EMVCo was founded in 1999, financial institutions around the world, especially those in Europe and Asia, have issued at least 730 million EMV-compliant cards. Issuers and card companies in Mexico, Canada, Brazil and other countries in the Americas, with the notable exemption of the United States, recently have undertaken efforts to move to EMV chip cards.
