EMVCo Membership Grows with Discover
03 Settembre 2013 - 4:21PM
Business Wire
Discover Financial Services has become the latest payment
network to join the growing membership of EMVCo, the EMV® standards
body. Discover will work alongside EMVCo’s existing members to
manage and evolve the contact and contactless EMV industry
specifications to facilitate worldwide interoperability and
acceptance of secure chip payment instruments.
Discover has acquired a one-sixth share of EMVCo from the
respective holdings of its current member-owners American Express,
JCB, MasterCard, UnionPay and Visa. It will therefore have an equal
interest in the standards body, actively contributing to the
management, technical work and operations of EMVCo.
“Discover becoming an equity member of EMVCo further underlines
the importance of the EMV standard for the global payments
industry,” explains Dave Meadon, current EMVCo Executive Committee
Chair. “The existing members of EMVCo value the additional
resources and contributions that new members provide as we address
the broad and diverse needs of the international payments
community. As an established end-user of the EMV Specifications, we
welcome the industry knowledge and extensive chip card experience
that Discover will bring to EMVCo’s work program.”
A key area of interest for Discover is the rapid growth and
expansion of new payment methods and how these are being supported
by EMVCo. Beth Horowitz, Senior Vice President, Discover Network,
adds: “Discover is committed to achieving a global, ubiquitous
payments landscape that is based on universally defined industry
specifications and standards. This is particularly important as
innovative transaction solutions are introduced such as contactless
and mobile chip-based payments. We look forward to adding our
expertise to these discussions and contributing to the global
specification development efforts of EMVCo.”
Discover is the second new member to join EMVCo in 2013. In May,
the standards body announced that UnionPay had become its fifth
owner-member. Christina Hulka, current EMVCo Board of Managers
Chair, concludes: “EMVCo is keen to engage with the payments
community to ensure the continued evolution of its standards as the
payments industry advances, rapidly offering new and exciting
innovations. As part of this drive, EMVCo has established an
Associates Programme, which encourages all payment stakeholders –
including payment card issuers, acquirers, merchants, processors,
card and terminal vendors, networks and their representative
associations – to provide input into the advancement of existing
and new EMV Specifications. We advise all interested parties to get
involved in this program, join our technical discussions and shape
the future of their payments landscape.”
To find out more about the EMVCo Associates Programme and how to
join visit www.emvco.com.
About EMVCo:
EMVCo's primary role is to manage, maintain and enhance the EMV
Integrated Circuit Card Specifications to ensure interoperability
and acceptance of payment system integrated circuit cards on a
worldwide basis. EMVCo also maintains type approval processes for
terminal compliance testing and Common Core Definitions (CCD) and
Common Payment Application (CPA) card compliance testing. These
testing processes ensure that a single terminal and card approval
process is developed at a level that will allow cross payment
system interoperability through compliance with the EMV
Specifications. Additional information can be found at
www.emvco.com.
About Discover:
Discover Financial Services (NYSE: DFS) is a direct banking and
payment services company with one of the most recognized brands in
U.S. financial services. Since its inception in 1986, the company
has become one of the largest card issuers in the United States.
The company issues the Discover card, America's cash rewards
pioneer, and offers home loans, private student loans, personal
loans, home equity loans, checking and savings accounts,
certificates of deposit and money market accounts through its
direct banking business. It operates the Discover Network, with
millions of merchant and cash access locations; PULSE, one of the
nation's leading ATM/debit networks; and Diners Club International,
a global payments network with acceptance in more than 185
countries and territories. For more information, visit
www.discover.com/company.
Media Contact:Discover Financial ServicesKatie Henry,
224-405-4437kathrynhenry@discover.comoriseeprSarah Jones, +44
(0)1943 468007sarah@iseepr.co.ukoriseeprKirsty Pearson, +44 (0)1943
468007kirsty@iseepr.co.uk
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