According to a September 2016 press release, the PCI Security Standards Council (or PCI SSC) plans to work with EMVCo on a new project to help make online payments easier for consumers.
Known as 3-D Secure 2.0, this new messaging protocol will be “used by the payments industry to enable consumers to authenticate themselves with their card issuers when making online purchases through PC web browsers,” according to the press release.
Both organizations are committed to protecting consumer information from hackers.
For example, when a business is PCI—which stands for Payment Card Industry—compliant, it has taken certain precautions to fight against data breaches and fraud.
Such actions include:
- Installing and updating a firewall
- Concealing cardholder data
- Obtaining antivirus software
- Testing security systems
EMV—which stands for Europay, MasterCard, Visa—technology focuses on eliminating the possibility of counterfeit card fraud from occurring in stores. It relies on an embedded microchip now commonly found on most recently issued credit and debit cards. But there aren’t any EMV terminals for eCommerce businesses, which makes online purchasing still risky. Now PCI SSC and EMVCo will work together to change this.
Troy Leach, PCI SSC chief technology officer expresses his enthusiam for the project, saying, "'3DS 2.0 is critically important to introduce improved authentication and we are excited to be working hand-in-hand with EMVCo to secure all payment channels.'"
The new 3-D Secure 2.0 is intended to protect online consumers. The council did not say when this product will become available.