Secure Remote Commerce Specifications Have Been Released

24th October 2018
Contributor:
Callum Godwin
Callum Godwin

A draft of the technical specifications for Secure Remote Commerce (SRC) has been released by EMVCo on October 19th.

SRC is a technology created by EMVCo intended to facilitate payment checkout for eCommerce platforms and will be interoperable with EMV payment tokenization and EMV 3-D Secure 2.0. EMVCo has stated SRC will address rising fraud levels in eCommerce, cart abandonment rates and reduce friction in online checkout.

The draft, EMV SRC Specification V0.9, will be available for public comment until December 3rd. The specification draft was released to allow as many merchants, card issuers, processors and payment networks as possible the chance to review and contribute to version 1.0, which is set to be published in 2019. Merchants operating eCommerce platforms should be keen to understand the potential implications of SRC and take this rare opportunity to comment on its specification.  

You Might Also Be Interested In These...

Resources
06.24.2021
What is Tokenization? A CMSPI Insights Guide

Tokenization is the process wherein sensitive data is converted into non-sensitive data called “tokens”.

Read More >
Blogs
05.20.2021
What Does the Fed Report Say About Fraud?

This article will explore the differences in performance between global card networks and U.S. domestic card networks in each of these environments.

Read More >
Resources
04.20.2021
What Is Debit Routing? A CMSPI Insights Infographic

CMSPI’s infographic on debit routing explains the uses and benefits of debit card routing to merchants and consumers.

Read More >
Blogs
04.08.2021
Excessive Online Credit Card Rejections During Pandemic Mean Frustration for Consumers, Missed Sales for Retailers

While online rejections help prevent fraud, CMSPI data indicates that one out of every five is a false positive – meaning good customers are wrongly turned.

Read More >
Read more industry news and insight