U.S. Payments Forum At A Glance
The U.S. Payments Forum (the “Forum”) is a cross-industry body focused on addressing issues that require broad cooperation and coordination across many constituents in the payments industry. This cooperation and coordination is vital to promote the efficient, timely, and effective introduction of EMV chip technology and other new and emerging payments technologies in the United States that protect the security of, and enhance opportunities for payment transactions within the U.S. Topic areas the Forum engages in include tokenization, card-not-present transactions, point-to-point encryption, and mobile and contactless payments. The U.S. Payments Forum grew out of the EMV Migration Forum, which was formed in 2012 to support the industry cooperation and alignment of the move from magnetic stripe technology to more secure EMV contact and contactless technology. The transition of the two organizations took place in August 2016.
The U.S. Payments Forum activities may include:
- Providing actionable guidance on technical issues, consumer awareness and other non-proprietary issues relating to industry-wide adoption and implementation of new and emerging payments technologies
- Developing non-proprietary best practices and training materials necessary for successful implementation of new payments technologies within the United States
- Discussing the coordination of process-related elements of the payments infrastructure necessary to introduce new payments technologies
- Discussing and engaging in projects to facilitate consumer adoption and allow for a more consistent consumer experience
- Providing implementation and feedback to standards bodies on proposed standards for new payments technologies
- Creating an environment for open discussion on new payments technologies among payments industry stakeholders
The U.S. Payments Forum will continue to address EMV chip payments and a variety of new and emerging payments technologies that protect the security of, and enhance opportunities for payment transactions within the U.S. New topic areas the Forum plans to address include, but are not limited to, tokenization, card-not-present transactions, encryption, and mobile and contactless payments.
For more information on the U.S. Payments Forum, please visit http://www.emv-connection.com/us-payments-forum/.