A slide deck and video recording of EMVCo’s keynote presentation at the Contactless World Congress on the Future of Contactless Payments is now available for free on the NFCW Knowledge Center.
During the session, Brian Byrne, EMVCo’s Chief Engagement and Operations Officer, and Jonathan Main, EMVCo’s Chairman of the Board, discussed how EMVCo’s upcoming contactless core specification will simplify and will advance the global acceptance of contactless, how elliptic curve cryptography (ECC) offers an advanced security solution, and how IQ demodulation supports improved transaction speeds and more reliable data transmission.
They also explained how developments in wireless technologies, including ultra-wideband (UWB), Bluetooth Low Energy (BLE) and Wi-Fi, provide opportunities for new use cases, including online payments. store in the aisles and automatic entry payments for events or transport.
EMVCo works with industry players to develop specifications for payment technologies to ensure global interoperability. It developed the EMV contactless core specification to address cost and complexity issues caused by the current diversity of contactless cores used in payment terminals, the speakers explained.
EMV Contactless Core
The specification will streamline the acceptance of contactless payments globally while supporting existing contactless architecture, coexisting with legacy cores, and minimizing the impact on processing networks. It will also be optimized for cloud operation and support offline transactions, they said.
Additionally, the specification will lead to increased security of contactless transactions by incorporating advanced technologies such as ECC, which provides a higher level of security while working with smaller cryptographic keys than existing RSA cryptography solutions.
The implementation of IQ demodulation technology will also provide more reliable data transmission which will improve transaction speeds as well as “greater flexibility in where the card or device can be positioned to be read by a payment terminal”.
EMVCo is also currently exploring the opportunities and challenges of longer range wireless technologies such as BLE, UWB, WiFi and mobile data to determine their impact on contactless payment systems and how future specifications could be introduced to ensure the interoperability and security through new uses. cases, especially those involving longer range wireless data transfer, Byrne and Main found.
During the Q&A session, chaired by NFCW Editor-in-Chief Sarah Clark, speakers answered questions related to the availability, implementation, and impact of the EMV Contactless Core Specification. , technologies including POS contactless acceptance software solutions and biometrics, and issues that EMVCo is exploring in relation to UWB, BLE and other longer range contactless technologies.
A video recording of the event, along with a copy of EMVCo’s slide deck from the session, is now available to view in the NFCW Knowledge Center here.
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