Web payment security group agrees to 2 more years

An industry agreement first signed in 2019 to encourage collaboration on developing better e-commerce check-outs has been renewed.

The signers are payments vendor EMVCo, the standards group the World Wide Web Consortium (W3C) and the authentication community the FIDO Alliance. The collaboration, which will now continue to improve commerce processes, is called the Web Payments Security Interest Group.

The trio have a number of individual efforts and initiatives as well. Above everything else, the group works on finding new business opportunities for each of the three’s core technologies.

The group is bringing more to the table at the time of renewal than when they originally teamed up, with W3C’s DIDs gaining traction and adoption of FIDO technologies rapidly increasing.

A statement published by EMVCo states that the group will continue to focus on a couple topics in particular.

It is not surprising that one of them is building better consumer privacy and authentication while minimizing headaches for consumers.

Also, the companies, through the group, will still invite feedback from merchants and other stakeholders in the industry. An industry agreement first signed in 2019 to encourage collaboration on developing better e-commerce check-outs has been renewed.

The trio have a number of individual efforts and initiatives as well. Above everything else, the group works on finding new business opportunities for each of the three’s core technologies.

The group is bringing more to the table at the time of renewal than when they originally teamed up, with W3C’s DIDs gaining traction and adoption of FIDO technologies rapidly increasing.

A statement published by EMVCo states that the group will continue to focus on a couple topics in particular.

It is not surprising that one of them is building better consumer privacy and authentication while minimizing headaches for consumers.

Also, the companies, through the group, will still invite feedback from merchants and other stakeholders in the industry. Read More

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