EMVCo has officially released the qr code to pay international standards.

              EMVCo has officially released the qr code to pay international standards.

15, under the promoting of China unionpay, the chip card and Payment standards organization (EMVCo) on its website for the global release the EMVCo users show the QR Code pattern Specification version 1.0, (the EMVCo QR Code Specification for Payment Systems: Consumer Presented Mode 1.0 "), to pay the global popularization and application of QR Code to build a set of participants responsibilities clear, reasonable risk dispersion, with global implementation feasibility of technical solutions, make up the blank of global unity QR Code Specification.Unionpay has promoted new breakthroughs in the application and promotion of Chinese standard internationalization.

China unionpay has played an active leading role in promoting this standard.In June 2016, China unionpay proposed to EMVCo to set up a security, general and open qr code payment framework in the global context, combining with the development of the two-dimensional code market.In the following month, EMVCo formally set up the standard working group of the qr code and headed by unionpay.In full on the basis of summarizing China‘s market qr code payment plan experience, at the same time with China unionpay pay qr code application specification as blueprint, China unionpay led EMV qr code design of the working party proposed the final technical solutions.Since the establishment of the working group to specification release only after 12 months of time, is EMVCo set up 20 years one of the most rapid response to market paradigm, and international standard unionpay on the stage show of power and influence.

Unionpay‘s China unionpay code payment application code issued to member agencies in early July 2017 is fully compatible with the standards released by EMVCo.Previously, unionpay also promote international standards compatible chip card abroad, unionpay chip card standard is not only the industry recommendation of Thailand, myanmar, also pay for alliance (APN) in Asian cross-border chip card standard, unified power in these countries and regions to realize from the magnetic stripe card industry to upgrade, chip with international standard.

Next, unionpay will accelerate overseas promotion qr code products and services: on the one hand, to promote more overseas cooperation institutions in the acceptance and issue qr code products, use international compatibility and safer unionpay standard (previously, unionpay has combined Visa and mastercard to EMVCo qr code standards as Thailand‘s central bank to the recommendation of local financial institutions and businesses);On the other hand, through cooperation with foreign financial institutions and business groups, speed up the unionpay pay qr code in the traffic, hospitals, social security, school construction in the areas of scene, at the same time provide the wallet products, to meet consumer demand for the diversity of mobile payment overseas.At present, some merchants in Hong Kong and Singapore have supported the payment of unionpay, and the merchants in southeast Asia, northeast Asia, central Asia and other countries will also be opened.

EMVCo is responsible for the development and maintenance of international payment technology and chip card standard specification (EMV standard). Its existing members include mastercard, Visa, JCB, American express and Discover.With the development of emerging technologies, the research scope of EMVCo has been transferred from the original chip card and gradually extended to various fields such as payment marking, mobile payment and identity authentication.

After joining EMVCo organization since May 2013, China unionpay to take an active part in joint development and implementation of EMV standard, technical standards and to ensure that the unionpay EMV standard integration development, further promote the unionpay chip card issued and accepted worldwide, at the same time, continue to promote the internationalization of Chinese standard application and practice.From July 2015 to June 2016, China unionpay held the rotating presidency of EMVCo management committee.On July 5, 2017, China unionpay officially became the chairman of the executive committee of EMVCo.