“The specification enables the creation of a virtual payment terminal and the icon facilitates easy consumer recognition of remote-checkout environments that offer a consistent card-based payment acceptance experience”

“Mastercard today launched the Mastercard Digital Wellness program, a host of technologies and resources that enable all businesses, especially small and independent merchants, to better serve today’s digital-first consumer. As part of this program, Mastercard will deploy EMVCo’s specification for fast, click-to-pay check-out for digital commerce. The specification replaces laborious key-entry guest check-out with a consistent, simple and secure guest checkout experience, no matter where a consumer shops online, or which device or card they use.”

“Mastercard Inc. president and chief executive Ajay Banga says he’s “very, very optimistic” about the Secure Remote Commerce initiative to reduce clutter on online checkout pages. Banga’s comments came Tuesday morning as he reviewed Mastercard’s results for the third quarter, a period in which U.S. purchase volume rose 10.7% year-over-year to $385 billion and profits jumped 33% to $1.86 billion.”

“The specification, known as Secure Remote Commerce, has emerged from work by EMVCo, the standards body managed by six global card networks, and is aimed at both simplifying consumer checkouts online and at tightening transaction security with tokenization. After comments have been considered and perhaps implemented, EMVCo will publish the final spec, probably early in 2019, Anil says.”