Card Not Present Fraud , Fraud Management & Cybercrime , Fraud Risk Management

Fighting Fraud as Digital Payments Skyrocket

As digital payments have skyrocketed as a result of the surge in e-commerce during the pandemic, more organizations have provided feedback on enhancing EMVCo's specifications to help fight fraud, according to Brian Byrne and Bastien Latge. Both are executives at the global technical body that facilitates worldwide interoperability and acceptance of secure payment transactions.

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”What I find fascinating is that normally with EMVCo, we roll out specifications and sometimes we're waiting years to evaluate the implementations and look at how we need to enhance the specs based on what's been happening," Byrne says. "But we've just seen this huge acceleration, this huge uptick in volume, and we're getting really good feedback that's going to help us keep enhancing the specs as we go forward."

In a joint video interview with Information Security Media Group, Byrne and Latge discuss:

• Card payment behavior during the pandemic;
• Preparing EMV card standards for the potential impact of quantum computing;
• The renaissance of QR code-based payments.

Byrne is EMVCo's director of engagement and operations. Previously, he led the product acceptance function for Visa Inc. and spent five years on the Visa chip team, where he served as the company's primary representative on the EMVCo board of managers.

As director of technology at EMVCo, Latge oversees technical developments related to evaluations, testing and approvals. He also represents EMVCo in its liaison work with other technical bodies.