EMVCo Supports Security Evaluation for IoT Products

Function is extended to include IoT products and solutions to deliver efficiencies and confidence across the payment ecosystem

 

04 March 2020 – Global technical body EMVCo has confirmed its security evaluation methodologies and processes support IoT payment use cases, enabling emerging solutions and devices to be evaluated quickly and efficiently.

Device hardware evaluations are playing an increasingly important role in IoT assessments across various IoT payment use cases, security frameworks and emerging compliance models. EMVCo, in collaboration with globally recognised independent laboratories, has worked since 2005 to evaluate the security of various EMV® hardware form factors and acts as a security certification entity. This function is now extended to IoT products and solutions. In addition to hardware product certification, EMVCo also delivers software security assessments of various interfaces and payment security functional requirements of IoT products.

“The IoT is creating new ways to pay, with payment functionality enabled across various industries globally,” comments Bruce Rutherford, Chair of the EMVCo Executive Committee. “This innovation needs to be balanced with functionality, usability and security. By optimising existing processes to support new IoT payment use cases, EMVCo brings efficiencies and confidence to the IoT payment ecosystem, and an established framework of payment expertise.”

To find out more or express an interest in an EMVCo evaluation, please contact the EMVCo Security Evaluation Secretariat.

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For further EMVCo media information please contact David Amos or Chloe Smith – Tel: +44 1943 468007 or email: david@iseepr.co.uk / chloe@iseepr.co.uk

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Notes to Editors

EMV® is a registered trademark in the U.S. and other countries and an unregistered trademark elsewhere. The EMV® trademark is owned by EMVCo, LLC.

About EMVCo

EMVCo is the global technical body that facilitates the worldwide interoperability and acceptance of secure payment transactions by managing and evolving the EMV® Specifications and related testing processes. EMV® is a technology toolbox that enables globally interoperable secure payments across face-to-face and remote environments. Adoption of EMV® Specifications and associated approval and certification processes promotes a unified international payments framework, which supports an advancing range of payment methods, technologies and acceptance environments. The specifications are available royalty free, designed to be flexible, and can be adapted regionally to meet national payment requirements and accommodate local regulations.

EMVCo is collectively owned by American Express, Discover, JCB, Mastercard, UnionPay and Visa, and focuses on the technical advancement of the EMV® Specifications. To provide all payment stakeholders with a platform to engage in its strategic and technical direction, EMVCo operates an Associates Programme and encourages all interested parties to get involved.

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