RIVERWOODS, Ill.--(BUSINESS WIRE)--With the announcement of EMVCo’s release of the EMV® Secure Remote Commerce (SRC) Specification v1.0, Discover announces that it intends to have a functioning system in market later this year.
“We are committed to supporting digital acceptance capabilities that help our partners and merchant community provide positive payment experiences to their customers,” said Ricardo Leite, vice president of global products and partnerships for Discover Global Network. “We remain actively engaged with other stakeholders to understand the market and uncertainties around SRC as we develop our own foundational components. We encourage our partners to reach out to us as we develop these capabilities to ensure all points of view – such as routing choice – are raised through our participation in EMVCo.”
Discover’s SRC functionality aims to solve some of the consumer pain points by promoting security and interoperability in a remote payment environment. Discover’s SRC components will enable our partners to process e-commerce transactions in a consistent, streamlined fashion across a variety of digital channels and devices, including smartphones, tablets, PCs and other connected devices.
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. Supported by dozens of banks, merchants, processors, vendors and other industry stakeholders, EMVCo provides all payment stakeholders with a platform to engage in its strategic and technical direction. Visit www.emvco.com for further information
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.
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 private student loans, personal loans, home equity loans, checking and savings accounts and certificates of deposit through its direct banking business. It operates the Discover Global Network comprised of 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 around the world. For more information, visit www.discover.com/company.