EMVCo is an organization that manages and develops standards for payment card transactions. It was created to ensure secure and efficient processing of payments made with EMV (Europay, MasterCard, and Visa) chip cards. These standards help protect against fraud and enhance the overall security of card payments. The organization is made up of major payment networks, including Visa, MasterCard, American Express, and Discover. By collaborating, these companies work to improve the interoperability of payment systems worldwide, making it easier for consumers and merchants to conduct transactions safely and reliably.