EMVCo, the EMV standards body jointly owned by JCB International, MasterCard Worldwide and Visa Inc., has announced a fourth owner-member, American Express. The addition of this latest international payment organization aligns with EMVCo’s intent to attract further industry participation in the development of the EMV Specifications.
As a supporter and end-user of EMV technology, American Express has acquired a one-fourth share of EMVCo from the respective holdings of the other three companies and will now have an equal interest in the organization. EMVCo’s management structure has been changed to give American Express representation on the executive committee and board of managers, in addition to equal participation in its working groups.
EMVCo last year announced the launch of a new subscriber service. The program will provide interested parties with an opportunity to access advanced information regarding revisions to the EMV Specifications and draft documents, and attend an annual user meeting.