In 2019, EMVCo published the EMV® Secure Remote Commerce (SRC) Specification following a public consultation, which allowed payment industry participants, including merchants, card issuers and payment networks, the opportunity to review and contribute. Now, two years later, Bastien Latge, EMVCo’s Director of Technology, explains how EMVCo is evolving the specification in response to changing industry requirements, and next steps for EMV SRC.
What is EMV Secure Remote Commerce (SRC)?
The EMV SRC Specification enables a common and secure consumer e-checkout, known as Click to Pay, and provides the opportunity for all merchants globally, regardless of size, to offer trusted, safe and convenient card-based payments to consumers shopping online. By enabling a common experience across online commerce sites, EMV SRC removes barriers to the purchasing process that can lead to abandonment, such as entering card and shipping information.
Participating merchants can use the Click to Pay icon to help consumers recognise when this technology is in place. When a consumer clicks on the prompt associated with the icon, they can be confident that they are entering a consistent and secure payment space – regardless of the payment method or merchant – and can expect an easy, smart checkout.
Following the publication of the EMV SRC Specification in 2019, what is EMVCo’s roadmap for EMV SRC in 2021?
EMVCo undertakes extensive work to stay ahead of the curve and support the infrastructures needed to enable secure, seamless transactions globally. We monitor the industry and implementations to understand areas to be enhanced, improved and maintained.
For the EMV SRC Specifications, we have a three phased update approach as part of our 2021+ roadmap:
- Phase one: Simplify, clarify and create consistency
In addition, EMVCo will create a dedicated dictionary to aid understanding of the terms and acronyms used within the specifications, offering greater clarity and consistency to the payments community.
Phase one was completed in June 2021.
- Phase two: Alignment and future specification
Within phase two, EMVCo will continue to ensure alignment between all EMV SRC Specifications. Work will also commence on the development of the EMV SRC Specifications v1.3, which are scheduled to be published in 2022.
Target completion timeframe for phase two is 2022.
- Phase three: Stabilisation
Phase three will focus on stabilising all proposed maintenance of the EMV SRC Specifications. This final phase will ease and facilitate product development updates for payment industry stakeholders using the EMV SRC Specifications.
Target completion timeframe for phase three is H2 2022.
In accordance with EMVCo’s standard process for specification development, there will be opportunities throughout this phased approach for EMVCo Associates and Subscribers to review and provide feedback on the draft EMV SRC documents before the specifications are finalised and published.
Does EMVCo plan to develop an EMV SRC testing and certification programme?
Due to the evolving nature of the remote payments environment and dynamic advancement of technology within this area, the feasibility of such a testing and certification programme based on the EMV SRC Specifications is under analysis. The work EMVCo is undertaking to align its EMV SRC Specifications is the first step to enabling an associated EMV SRC testing programme.