ETA Expert Insights: Secure Remote Commerce (SRC) 101

By ETA COMMITTEES: Retail Technology, Mobile Payments & Technology

WHAT IS SRC?

• SRC stands for Secure Remote Commerce, and its objective is the enablement of a common consumer internet-based, e-checkout experience that promotes simplicity, familiarity, interoperability, convenience, and trust. It can also be referred to as Click to Pay.
• It was developed by EMVCo and provides the foundation of a universal, streamlined, and consistent checkout experience for e-commerce transactions.
• The goals of SRC are to reduce cart abandonment rates, improve authorization rates, and provide a unified authentication process.
• The SRC framework and technical specifications are managed by EMVCo.

DOES SRC APPLY TO ME?
If you are a merchant that sells products online, via mobile app, or by other digital means and would like to reduce friction with collecting payment and shipping information, then you should highly consider supporting SRC as a method of payment.

HOW DOES IT WORK?

• SRC works within an existing merchant online checkout by allowing consumers to pay with a single payment profile that can be used across their devices, wherever they see the SRC payment icon. SRC offers a unified checkout that allows for a more secure guest checkout (removing the need for passwords). It’s a wallet in that everything is stored in one place.
• For new users, registration is required by consumers and can begin once the consumer is ready to check out. Once the consumer proceeds from the cart to the payment method page, they will select the SRC icon.
• From here, the new user/consumer will be redirected to a registration process where they will need to first add payment information and billing information associated with their payment type, and then verify. The consumer will be provided with an option to remember their device for the future to enable faster checkouts. The consumer will then return to the checkout page to continue the purchase.
• For returning users, consumers will see the SRC icon under their payment options, if they previously chose to remember their device. If they did not choose to have their device remembered, they may be required to enter their user ID and authenticate themselves with a one-time passcode or other step-up challenge.
• The Click to Pay logo will look like below and will be accompanied by logo(s) from a major credit card network. One or more logos will be displayed, depending on which credit cards the e-merchant accepts.
• For consumers, this offers a seamless checkout experience that is frictionless and protected. Click to Pay will provide reassurance to consumers that their checkout experience is riskless, no matter the digital channel, device, or payment card they use.
• Consumers can add additional card and billing details to their profile to be used for future SRC checkouts.

CLICK TO PAY LOGO
 

A special thank you to the SRC Working Group, an inter-committee effort between ETA COMMITTEES: Retail Technology, Mobile & Technology for compiling the basics around SRC. Participating committee members included:  Chris Engelhardt, Discover; Michael Gray, Netspend; Ramsey Koschak, SignaPay; Chris Lopez, FIS; Russ Palay, Nuvei; Jenn Reichenbacher, Paysafe; Kevin Shamoun, Fortis Payments; Ryan Suprenant, Paay.