Square bets on EMV standards improving the mobile payments space

Square Inc. mobile payments nfc technology

Dorsey has high hopes for EMV standards Jack Dorsey, CEO and co-founder of Twitter and CEO and founder of Square, wants his mobile payments company to be universally recognized as a leading mobile commerce firm. Dorsey believes that the coming shift toward EMV standards will help Square accomplish this goal. Square has released its first earnings report since its initial public offering, showing that it has received 350,000 pre-orders for its EMV-enabled card reader, which can be used to process mobile transactions. New standards may speed up mobile transactions According…

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Payment security to be improved as US adopts EMV standards

Mobile security payments online retail card

Executive order calls for the adoption of EMV Late last week, President Obama signed an executive order that will speed up the adoption of EMV-standard payment cards in the United States. EMV is an acronym referring to security and payment standards introduced by Europay, MasterCard, and Visa. These standards involve the use of microchips used for payment cards rather than the traditional magnetic strips. EMV standards are considered by financial organizations to allow for more secure transactions. EMV cards can help improve payment security by a significant degree EMV standards…

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