EMVCo plays several critical roles in the payment industry. 

One of its primary responsibilities is developing specifications.
EMVCo creates and maintains the standards for chip cards and payment terminals, ensuring they can operate together seamlessly on a global scale.

Additionally, EMVCo handles testing and certification.
The organisation provides processes to test and certify products, ensuring they meet EMV standards., enhancing both the security and interoperability of these products.

Another important role of EMVCo is promoting adoption.
The organisation actively works to encourage the global implementation of EMV standards, aiming to improve the overall security and efficiency of payment systems worldwide.

Finally, EMVCo focuses on security and interoperability.
The standards it develops are designed to mitigate card fraud caused by counterfeit, lost, and stolen cards.
They also ensure that transactions can be conducted smoothly across different countries and various payment systems.

For further information, see EMVCo.