Fraud Management & Cybercrime , Standards, Regulations & Compliance

Payment Card Security: Are More Open Standards Needed?

Douglas Kantor, counsel to the Secure Payments Partnership, a coalition of retail groups and payment networks, argues that U.S. card payments need more open standards to build in better security.

”One of the problems we had with the introduction of EMV in the United States was that it lagged behind the security that was already out there in other places, and that caused problems throughout the U.S. market,” Kantor says. “And we don't want to see that type of thing recur. So we're hoping that better security can be built in as we make a number of changes and the technologies continue to evolve.”

In a video interview with Information Security Media Group, Kantor discusses:

• The aims and objectives of the Secure Payments Partnership;
• The case for allowing more robust authentication of credit card payments using a PIN;
• Why a more collaborative role for card payment security in the U.S. would benefit all stakeholders.

Kantor is a partner in the Washington office of the law firm Steptoe & Johnson LLP, where he specializes in government affairs and public policy, congressional oversight and investigations, crisis management and financial services. He has established and administered coalitions of companies and trade associations, including the Secure Payments Partnership, that share common legislative and regulatory objectives.