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Based on reports, a new fight is brewing between merchants and card companies as major card networks Visa and MasterCard are requiring online merchants from hi-risk industries to present legal opinions from IMGL and STEP accredited local lawyers in jurisdictions in which they operate.
This also comes with a new technical framework for online transactions, which these two major companies are backing from their jointly owned EMVCo specifications group. This is amid growing competition for mobile and other digital payments and lackluster take up of the networks’ respective online digital wallets, Visa Checkout and MasterPass.
Visa has persuaded payment firms CyberSource, Adyen, Rambus, G+D Mobile Security, SecureCo, Ezidebit, eWay, and Bambora to sign up to its credential-on-file (COF) tokenization technology, acting as gateways to connect to the Visa Token Service. The switch – which will remove the need for online merchants to store their customers’ payment details in their own systems – will come into effect over the next few months, and will roll out worldwide.
MasterCard has said it plans to start rolling out new tokenization and authentication services through its EMVCo Secure Remote Commerce (SRC) framework in the second half of 2019, with the company aiming to enable token services on all cards by 2020.
During the 3rd edition of Prague Gaming Summit, some of the leading experts of the CFD, FX, Gaming and Crypto industry will guide the delegates through some interesting topics which have been raised by gaming operators. How can merchants tackle these requirements and what are the most efficient solutions for gaming operators, CFD and FX brokers and crypto exchanges?
The answer to these questions and many more information on the topic will be delivered via a special panel discussion that is titled as “Emergency Briefing regarding Visa and MasterCard new requirements for Online Merchants (CFD, FX, Gaming, Crypto)”.
The panel discussion will be joined by leading experts Stephanie Attias (Global Head of Regulation, Tal Ron, Drihem & Co.), Genia Gurevitz (Head of Asia-Pacific and Baltics Operations, Tal Ron, Drihem & Co.), Tal Itzhak Ron (Chairman & CEO at Tal Ron, Drihem & Co., Law Firm) and Dr. Simon Planzer (Partner at PLANZER LAW, Zurich).
The third edition of Prague Gaming Summit will be held on the 12th of March 2019 at Vienna House Andel’s Prague and will gather some of the leading industry experts for one full day of learning and networking.
Don’t miss out on this exciting opportunity to engage on the subject of operator and affiliate relations at Prague Gaming Summit 3!
Source: European Gaming Media and Events