EMVCo is an organisation formed by Europay, Mastercard and Visa to oversee the implementation of Chip & PIN cards. They maintain and develop specifications to ensure global operability, so that any EMV accredited card can be accepted at any EMV-accredited point of sale anywhere in the world.
EMV specifications are based on the existing standard for integrated circuit cards with contacts (ISO 7816) and are expected to become a global standard. The UK is the first major implementation of this standard.
EMVCo is controlled by a Board of Managers, which has established a number of working groups, currently covering ‘card and terminal’, ‘security’ and ‘type approval’. These working groups are made up of representatives from Europay, MasterCard and Visa.