EMVCo Requests Feedback on Framework for Secure, Interoperable and Scalable Card-Based Agentic Payments

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Postmedia has not reviewed the content. by Business Wire EMVCo Requests Feedback on Framework for Secure, Interoperable and Scalable Card-Based Agentic PaymentsAuthor of the article:THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an Account– the technical body that creates and manages EMVSpecifications and programmes – has released a draft framework to help promote secure, interoperable and scalable card-based agentic payments. The framework provides a foundation for further industry engagement and potential specification development, with all interested stakeholders encouraged to provide their feedback onby Wednesday 30 September.A key focus across the agentic commerce ecosystem is how to establish intent and determine that a consumer delegated authority to an AI agent to make a purchase on their behalf. Following industry input, EMVCo has focused on card-based agentic payment scenarios where intent needs to be managed over time, such as recurring purchases, cumulative budgets and post-transaction activities. These scenarios may require access to a shared intent ‘state’ that persists across multiple participants and their interactions.EMVCo has identified an opportunity to complement cryptographic assurance provided by existing industry solutions, such as Verifiable Intent, with a common coordination point that can help participants consistently interpret consumer-authorised intent.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againThe draft EMV® Agentic Payments – Framework for Specifications therefore introduces the concept of ‘Intent Services’. Intent Services provide a shared, interoperable layer that enables payment participants to register, reference, retrieve and manage consumer-authorised intent before, during and after a transaction. The framework provides an overview of ecosystem roles and data fields for registering intent, maintaining lifecycle and state information, and enabling the authorised retrieval of intent-related data.Junya Tanaka, EMVCo Executive Committee Chair, comments: “Card-based agentic payments require a globally interoperable foundation that consumers, merchants and issuers can all trust. This publication marks an important step forward by outlining a consistent approach for establishing and communicating intent alongside payment-related information, and we encourage participants from across the industry to share their feedback to shape its ongoing development.”EMVCo has established a dedicated Agentic Payments Task Force and is actively engaging with the hundreds of industry stakeholders that participate as EMVCo Associates and Subscribers. It is also collaborating closely with various industry partners and technical bodies, including the FIDO Alliance, the OpenID Foundation, the OpenWallet Foundation and W3C.By providing a common foundation for card-based agentic payments, the framework will help identify potential future enhancements to other EMV technologies – including EMV 3-D Secure (3DS), EMV Payment Tokenisation, EMV Secure Remote Commerce (SRC) and the EMV Digital Payment Credential (DPC). It will also inform opportunities to complement existing and emerging identity and credential standards.Development may also be required to help enable the consistent identification of agentic transactions across the payments ecosystem. To support this, EMVCo may consider capabilities related to Know Your Agent (KYA) and Agentic Transaction Indicators to be included in future publications. Together, these could help provide interoperable mechanisms for identifying the agent involved in a payment interaction, communicating relevant agent attributes, and signalling that a transaction involved an agent acting on behalf of a consumer.Following initial review from EMVCo Associates, EMV® Agentic Payments – Framework for Specifications is now available for public review until Wednesday 30 September. As work continues to progress, all interested stakeholders are encouraged to explore ways to participate in EMVCo and share input on the strategic considerations and technical advances shaping agentic payments.EMV® is a registered trademark in the U.S. and other countries and an unregistered trademark elsewhere. The EMV trademark is owned by EMVCo, LLC.EMVCo creates and manages EMV Specifications and programmes that enable seamless and secure card-based payments for businesses and consumers worldwide.EMV Specifications support technologies including EMV Contact Chip, EMV Contactless Chip, EMV Mobile, EMV QR Codes, EMV Secure Remote Commerce, EMV 3-D Secure and EMV Payment Tokenisation and are widely used by the payments industry to develop products and services that deliver trusted and convenient in-store, online and remote card-based payments.As a global technical body, EMVCo is collectively owned by American Express, Discover Network, JCB, Mastercard, UnionPay and Visa. Hundreds of payments stakeholders, including merchants, banks and technology providers, participate as EMVCo Associates and Subscribers to develop, evolve and enhance flexible EMV Specifications that support innovation and address marketplace needs. All EMV Specifications are available royalty free on the EMVCo website.View source version on businesswire.com: This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.