There's a new group on the block: The Secure Remote Payment Council formed recently to foster cooperation in addressing user authentication and financial data encryption issues associated with development, promotion and adoption of Internet and mobile debit transactions.
Paul Turgeon, President of Payments & Processing Consultants Inc., said there hasn't been a forum in which all the players could meet in one room. In the summer of 2009, he began calling issuers, payment brands, payment authentication developers, financial institutions, processors, alternative payment platforms and merchants to meet to discuss the formation of an organization to support the furtherance of remote debit. The response was unanimous. "Everybody came, literally everyone," Turgeon said of a series of weekly planning meetings held shortly after his outreach efforts began.
At a meeting slated for Dec. 17 to 18, 2009, in Dallas, the SRPC's initial board of directors will be installed. Paul Tomasofsky, President of Two Sparrows Consulting LLC and SRPC steering committee member, said groundwork has been laid to provide a quick start for the board, and the SRPC will hold several regional meetings to recruit members and gather input from industry leaders.
According to Tomasofsky, the council wants to help foster consumer adoption; merchant acceptance and implementation; and infrastructure changes that acquirers, processors or issuers need to make. "We want to work with standards bodies to make sure that the voices of our members are going to be heard in their standard-writing," he said. "We will help; we will participate."
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