Secure Remote Commerce Specifications Have Been Released
24th October 2018Contributor:
Callum Godwin
Related Tags
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...
CMSPI’s infographic on debit routing explains the uses and benefits of debit card routing to merchants and consumers.
Read More >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 >Nearly a decade after federal regulators forced U.S. banks to lower fees charged to process debit card transactions, much of the savings has been eroded.
Read More >In CMSPI’s very own ‘whodunit’ board game, you can play detective and identify where the merchant has been mischarged.
Read More >