Payment standards

EPI could potentially provide a bedrock for future European payments innovation. It arguably does not go far enough, says Icon Solutions' Michel Vaja.

The shift from cash has boosted digital and called attention to the importance of standards, says EMVCo's Brian Byrne.

After 18 years heading the U.S. Payments Forum and Secure Technology Alliance, Randy Vanderhoof will retire at the end of the year.

EMVCo, the major card brand-supported venture to establish EMV guidelines and specifications, has begun testing a program to determine if consumer mobile devices can securely accept contactless payments — a move that not only hastens the adoption of contactless payments, but renews criticism over which networks control technology and routing decisions.

But with the deadline fast approaching and no further extensions on the horizon, focusing squarely on accelerating EMV compliance is now the optimal decision for gas station owners, says Paysafe's Lori Griboski.

As merchants and consumers increasingly favor contactless payments over the course of the COVID-19 pandemic, Visa is removing obstacles to contactless acceptance.

Payments technology entrepreneur Will Graylin is launching OV Valet Superkey, a payment card and digital wallet that can initiate touchless payments at more than 90% of all payment terminals. It pairs with an app that supports messaging and live chat functions.

Riding a technology wave that helps attract more customers and generate more revenue sounds appealing enough — but with contactless payments, there isn't always a clear upgrade path for stores that have relied on older terminals.

EMV specifications body EMVCo has started a pilot program to evaluate consumer mobile devices for contactless payment acceptance, enabling vendors to have smartphones and tablets evaluated for possible use by merchants to accept payments without attached card readers.

Coronavirus galvanized the use of NFC payments and QR codes, and PayPal wants to harness both trends for Venmo’s first credit card.

The COVID-19 pandemic was a clear incentive for advancing contactless and digital payment technology — but the systems merchants put in place today could create new problems down the road.

PaymentsSource Senior Analyst Michael Moeser interviews Visa's global head of contactless payments, Dan Sanford, about the factors causing a sharp rise in the use of contactless cards and mobile wallets across the globe.

The trend toward payments that limit contact will continue beyond COVID-19, says EMVco.'s Brian Byrne.

A rise in chargebacks has renewed a push for an independent standards body by the SPP, formed in 2018 to represent merchant groups .

The complexity of the migration is an opportunity to examine other elements of the payment experience, says TNS' Brian DuCharme.

It took years for NFC payments to gather momentum in the U.S., with merchants initially dragging their heels to enable contactless technology at payment terminals and banks waiting until 2018 to begin the slow rollout of NFC-enabled cards.

One way banks can prepare for a smooth cutover to new standards is by implementing a core banking / payment solution that uses ISO 20022, says Infosys Finacle's Peter Ryan.

EMVCo has developed guidelines that allow the travel industry to provide more data to issuers authorizing ticketing transactions as a way to reduce fraud in air travel, hotel and car rental purchases.

The coronavirus pandemic has generated more interest in pay-at-the-pump apps, a growing segment of the payments industry that may not have grown fast enough to be ready for the sudden surge of interest in contactless payments.

To ensure safe, secure transactions that are protected against fraud, retailers moving to EMV have been encouraged by their POS partners to replace or upgrade the network infrastructure, says TNS' Brian DuCharme.