- The company has come up with innovative ways for security evaluations
- The company has also collabed with well recognised independent laboratories since 2005
EMVCo, one of the leading global technical bodies has confirmed its methodologies for security evaluation the processes support Internet Of Things (IoT) in cases involving payments and transactions. This is also helping in enabling upcoming solutions and devices to be evaluated quickly and efficiently.
Presently, device hardware evaluations have increased their importance in IoT assessments across various IoT application cases which include security frameworks, and emerging compliance models.
EMVCo, has teamed up with globally recognised independent laboratories, has been working since 2005 to evaluate the security of various EMV hardware form factors. This company also acts as a security certification entity. The function is now extended to IoT products and solutions. EMVCo also delivers software security assessments of various interfaces and payment security functional requirements of IoT products, in addition to the hardware product certification.
Bruce Rutherford, chair of the EMVCo Executive Committee also shared that the IoT has been creating new ways to pay, with payment functionality enabled across various industries globally and also hopes to balance this innovation with functionality, usability and security. He also added that the optimisation of existing processes would support new IoT payment use cases.