EMVCo is the organization created by international payment systems for the purpose of development of international standards for smart cards and transactions with them. Founders of the EMVCo organization are international payment systems of American Express, Discover, JCB, MasterCard, UnionPay and Visa.
EMVCo provides development of the EMV standard in the field of contact and contactless payments according to cards with the chip. The main activities of the organization are ensuring global compatibility of smart cards with the equipment for their acceptance and increasing the level of security of financial transactions with their use.
EMVCo issued in the summer of 2017 two technical specifications for payment transactions based on QR codes for the mode of their use of TSP and consumers.
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