Secure Remote Payment Council releases white paper on secure e-commerce and mobile payments

The 2011 Roadmap initiative of the SRPc is to examine consumer authentication across the entire supply chain. The main purpose is to identify beneficial changes to the infrastructure in order to carry out nF2F payments as secure as PIN debit.

Consumer authentication comprises the tokens that can be used, the means used to collect and protect them, the governance regulating their use and collection, and the determination of the relevant party that bears the risk for the transaction when the tokens are collected appropriately.

According to the company’s white paper, the main weakness of today’s nF2F payments is the difficultly of validating that the person requesting to make a purchase is the person authorized by the account-holding organization to carry out purchases.

The white paper includes an exercise in which each SRPc member has to examine the current state of consumer authentication taking into account the following criteria: acceptable tokens, token capture, token storage, consumer authentication, risk and assignment of liability, fraud prevention/remediation, privacy, business operations and data.

The main findings include:
• Creating a coordinated evolution of the data content and message sets necessary to achieve the level of security targeted by the SRPc and keeping the interoperability between the physical merchant payment environment, the e-commerce payment environment and the evolving mobile payments environment.
• Coordinating the incorporation of the data elements and messages necessary to transport and process the data collected electronically from magnetic stripes, contactless chips and EMV chips in the nF2F processing infrastructure.
• Coordinating member Brands activities that wish to bear risk for transactions.
• Establishing criteria that constitutes security equal to that enjoyed in the physical world by PIN debit POS.

The Secure Remote Payment (SRPc) is a non-profit, inter-industry trade association which supports the growth, development and market adoption of debit based internet e-commerce and mobile channel payment methods that meet or exceed the security standards for pinned based card present payments. The SRPcs members include merchants, financial institutions, merchant processors, issuer processors, payment brand companies, payments authentication hardware providers, payments authentication software providers and payments consultants.