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...
As petro & convenience merchants prepare for the 2020 liability shift, one truth is clear: regardless of whether or not you choose to comply, extra costs are inevitable.
Read More >Recent reports have stated that the total cost of accepting cards in the U.S. has now exceeded $100 billion a year for the first time.
Read More >CMSPI provides transparency to the complexities associated with processing payments.
Read More >Many merchants are overpaying by substantial six and seven-figure sums every year, we detail the importance of auditing your invoices.
Read More >