Payments News

With the New Common Buy Button, Don’t Look for a Payoff Any Time Soon, a New Report Warns

Jul 10, 2019

The news that the major payment card networks will implement a standardized buy button later this year may have stirred hopes among issuers, merchants, and acquirers that the longstanding problems of rising e-commerce fraud and inconsistent checkout flows will finally be addressed. But already cautionary notes are emerging to indicate the bulk of the hoped-for benefits could be years away.

Version 1.0 of the Secure Remote Commerce specification from EMVCo, the major card networks’ standards body, emerged Friday, and almost immediately American Express Co., Discover Financial, Mastercard Inc., and Visa Inc. said they plan to incorporate the SRC process within a matter of months.

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