EMVCo, the industry governing body that oversees standards related to the EMV chip cards and payments including tokenization and 3D Secure, said eight new members have joined its consortium.
In a press release Wednesday (July 8), EMVCo named the new members who joined its associate program within the past 12 months. The roster includes Bank of America Merchant Services as Business Associate; CardinalCommerce as Business and Technical Associate; China Information Technology Security Evaluation Center as Technical Associate; Creditcall as Business and Technical Associate; Intel as Technical Associate; RSA as Technical Associate; Shazam as Business and Technical Associate and finally, Soft Space as Technical Associate.
At each level, there are different amounts of input to strategy and the consortium’s direction, according to the release. The Business Associate level lets firms offer input tied to EMV specifications. To be named at the Business Associate level, firms must have direct business responsibility for an EMV transaction at some point in the lifecycle of a given transaction. There are 41 Business Associates in all.
Technical Associate members are able to work alongside all nine of EMVCo’s technical groups to receive updates and offer input related to EMV technologies and processes. There are 38 Technical Associates.
EMVCo is jointly owned by American Express, Discover, JCB, MasterCard, UnionPay and Visa. The consortium in turn features members who run the gamut of the payments industry, from cards to mobile networks to merchants.
“The level of participation in the EMVCo Associates program, and its continued growth, demonstrates the appetite of the global payments community to engage with EMVCo and play an active role in shaping the future of the EMV specification,” said Tac Watanabe, current chair of EMVCo’s executive committee, in the release.
Participants are able to work with EMVCo on either the business or technical levels, or both.