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Discover Supports EMVCo’s Release of EMV® SRC Draft Specification, Welcomes Additional Step to Address Broader Industry Feedback

October 19, 2018

RIVERWOODS, Ill.--(BUSINESS WIRE)-- Discover today announced its support of EMVCo’s v0.9 release of the EMV®* Secure Remote Commerce (SRC) draft specification and emphasized the importance of EMVCo’s additional step to provide an opportunity to all industry stakeholders to comment on the standards before the first complete version is issued in 2019.

“As a member of EMVCo, Discover continues to contribute on the EMV SRC initiative. We see this additional step taken by EMVCo as a critical component of our standards development process.” said Ricardo Leite, vice president of global products and partnerships for Discover Global Network. “There are still open questions about the EMV SRC framework and specifications, and we encourage stakeholders to provide feedback.”

The EMV SRC Specification is being developed to provide a consistent and streamlined checkout experience across all digital channels. The solution is designed to enhance security, reduce complexity and ultimately optimize the customer experience.

“Discover continues to execute against our digital checkout capabilities roadmap and receiving broader industry feedback will help us to determine when and if EMV SRC will be part of our solution set for our Discover Card customers and Discover Global Network partners,” Leite said.

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

About Discover

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 in 190 countries and territories. For more information, visit www.discover.com/company.

* 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
Rob Weiss
224-405-6304
robertweiss@discover.com
@Discover_News

Source: Discover Financial Services