The Web Payment Security Interest Group has officially published its first paper to advance its goal of making web payments more convenient and more secure. The Interest Group first game together in April of 2019, and consists of the FIDO Alliance, EMVCo, and the World Wide Web Consortium (W3C).
The new paper specifically looks at the three organizations’ various technology specifications, and then explains how online merchants can use them in conjunction with one another to deliver a better online experience for their customers. The paper itself has been titled ‘How EMVCo, FIDO, and W3C Technologies Relate.’
The specifications detailed in the report include the FIDO Alliance’s FIDO2 protocol and W3C’s Web Authentication and Payment Request APIs, as well as the Secure Remote Commerce (SRC), 3-D Secure (3DS), and Payment Tokenisation specifications from EMVCo. When deployed in tandem, the solutions can bridge any service gaps that may be present in one alone.
The three organizations noted that online payments have taken on a greater urgency since the onset of COVID-19, which has boosted e-commerce and increased the number of fraud attempts. The paper was published to show businesses how they can use the specifications to fulfill their regulatory obligations, prevent fraud, and reduce operating costs while simultaneously removing friction from the online shopping process.
“FIDO Authentication can complement EMVCo and W3C technologies by authenticating users and transactions in a variety of scenarios,” said FIDO COO and Executive Director Christina Hulka. “The Web Payments SIG and this first resource are intended to educate and answer questions so these technologies can be implemented for stronger and simpler web payments.”
“The three organizations have advanced their understanding of each other’s activities,” added W3C payments lead Ian Jacobs. “This allows us to accelerate our joint efforts, and in collaboration with industry, to develop the next generation of secure and user-friendly technologies to streamline e-commerce.”
Representatives from the three organizations will host a virtual panel session on November 18 as part of FIDO’s inaugural Authenticate conference. They are now soliciting feedback from interested parties, and plan to use that feedback to update future versions of the document.