Payments News

On The Web

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Standards

PCI SSC Publishes New Standard for Mobile Payment Solutions

“Today the PCI Security Standards Council published a new standard designed to support the evolution of mobile payment acceptance solutions. PCI Mobile Payments on COTS (MPoC) builds on the existing PCI Software-based PIN Entry on COTS (SPoC) and PCI Contactless Payments on COTS (CPoC) Standards, which individually address security requirements for solutions that enable merchants […]
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Companies

EMVCo Publishes EMV® Contactless Kernel Specification

“Global technical body EMVCo has published a new specification to support the evolution of contactless and mobile payments and simplify global acceptance for merchants, solution providers and payment systems. Version 1 of the EMV® Contactless Kernel Specification* has been developed in collaboration with EMVCo Associates and approved for release by the EMVCo Board of Advisors. […]
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Standards

How to Prepare for New PCI DSS 4.0 Requirements

“The upcoming changes to the Payment Card Industry Data Security Standard (PCI DSS) will affect every organization that stores, transmits, or processes cardholder data and/or sensitive authentication data. Effective starting in March 2024, the new standard, known as PCI DSS 4.0, spans dozens of changes in areas including risk assessment, how keys and certificates are […]
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Standards

Amadis Unveils OLA Payment Processing Standard

“Amadis, a global payment software editor, today announced OLA (Open Level 2 API), a standard that enables standardized interface between EMV Level 2 stack and EMV Level 3 payment applications, independent of device, Operating System or geography. It precisely defines the interface between the EMV and Nexo domains. The open and universal attributes of OLA enable merchants […]
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Standards

Online Retailers Warned of Lost Sales As SCA Comes Into Effect

“Online retailers are being warned to be prepared for the introduction of Strong Customer Authentication (SCA), the biggest change to payments since Chip & Pin rolled out 16 years ago. Initially scheduled for introduction on 14 September 2019, the rules – which demand a two-step verification process for all online purchases over €30 – come […]
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Standards

UK Merchants Warned to Get Ready for Imminent SCA

“With the UK finally set to officially enforce Strong Customer Authentication (SCA) rules, vendor Forter is warning merchants that issuing banks are already issuing soft declines on transactions which have not been sent to 3DS and are not flagged as either exempt or out of scope. Initially scheduled for introduction on 14 September 2019, the […]
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Standards

EMVCo Reveals Plans to Extend Specifications and Testing Programmes

“EMVCo is to launch an initiative to evaluate the role of wireless technologies not yet covered in its specifications — including Wi-Fi, ultra wideband (UWB), Bluetooth Low Energy (BLE) and mobile data — in creating “flexible and convenient payment experiences”, the technical body’s annual report reveals.”

On The Wires

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Standards

ASC X9 Publishes ISO 20022 Remittance Content Market Guide

“The Accredited Standards Committee X9 Inc. ( X9 ) today announced the availability of the ISO 20022 Remittance Content Market Guide, which documents recommendations for remittance information content. The guide is intended to advance a major benefit of ISO 20022, which is to support straight-through processing of remittance data for business-to-business payments. It provides guidance […]
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Standards

Nacha Announces Updates to ISO 20022-to-ACH Mapping Guide & Tool | Nacha

“Today, Nacha announced updates to its ISO 20022-to-ACH Mapping Guide & Tool , which provides background, explanation and examples as well as detailed data mapping between the ISO 20022 messages and the corresponding ACH transactions. These updates include revisions to align with recent Nacha Rules changes, including the expansion of Same Day ACH, changes to […]