Digital Transactions reports that the Annapolis, Md.-based Accredited Standards Committee X9 Inc. is gauging interest from its committee members as to whether they’re interested in exploring an open alternative technical standard to EMV.
Should enough members be interested, X9 would hold a two-day meeting for discussion of how to proceed with integrated circuit (IC) standards. X9 does not seek to replace EMV but is questioning the benefits of developing an open, consensus based standard for the U.S.
Some proponents of a new, open standard feel that stakeholder input would be vital to developing transparent IC standards. However, as momentum around EMV has hit the U.S., talk of this process could slow down its progress, especially as deadlines for acquirers to process EMV transactions approach.
The X9 committee has over 140 members and its standards are adopted by the American National Standards Institute.
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