EMVCo announced a new streamlined approach to approving contactless mobile payment-enabled devices that operate with EMV Level 1 approved payment acceptance terminals.
“EMVCo recognizes that the use of mobile devices to make contactless payments is growing in popularity. It is important that the payments industry supports manufacturers’ product development cycles, while ensuring that the correct testing is undertaken to confirm that a product will be interoperable with the established payment infrastructure,” Jonathan Main, EMVCo Board of Managers chair, said in a press release.
“The centralized testing framework from EMVCo will significantly streamline the existing process to optimize product time to market,” he continued.
According to the press release, the updated testing and approval includes:
The streamlined process for EMV Contactless Mobile Payment Type Approval will cover SE and HCE technologies.
Earlier this year, the global technical body, which facilitates the worldwide interoperability and acceptance of secure payment transactions, upgraded its EMV Payment Tokenization specs with the addition of a “Payment Account Reference” (PAR).
As described in the release, PAR — for use by merchants, acquirers and payment processors — can enhance security by limiting references to a cardholder’s primary account number (PAN) in the payment ecosystem.
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