EMV: Let the planning begin
Original 30 Sep, 2011 16:23 updated 02/22
There’s no way around it – EMV transition planning will be complicated. However, while EMV is a complex specification, the good news is that it can grow over time. Thus the key is to implement an infrastructure that lets you start with a simple, single portfolio that can expand and mature with you. Looking forward, the goal is to do it once, do it properly and avoid the pain of re-doing it when it’s time to move into mobile payments
I agree totally with this sentiment. Mobile is here. EMV addresses the requirement to include Dynamic data in a payment transaction to address questions of identity and irritability.
Having had a chance to sit inside EMVCo working group meeting and being fully aware of those words read every time that reminded us of our confidentiality and sharing of patent and secrets that might jeopardize the future of EMV.
What I saw was the successful release of the EMV contactless specifications and type approval processes capable of testing tap if one remembers the distance has to be 2 cm instead of 10. Otherwise the protocol and security will last us until 2025. Plans where underway as I left that where focusing on expanding the standardization of mobile and the development of a next generation or EMV 2.0. They are talking about 2015 and 2017 for probably dates that these new specifications and processes would be in place to allow widespread adoption so that circa 2030. If hey are right we have a new and transparent solution that opens and never hinders access to whatever we have the right to access. what about the next 17 years,
Well, EMV works. It already includes mobile and contactless.
Visa and MasterCard have said yes. Amex is OK, discover has had lots of ads for payment people with EMV knowledge and such titles.
The Federal Reserve seems to be on-board and Global Platform, NFC and Mobey forum seem to be OK.
Looks like a plan to me.