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EMV Cards

EMV is a payment method based on the security of smartcard chip technology.

What is EMV?

EMV is a payment method based on the security of smartcard chip technology. It adds the ability to use dynamic data in the transaction approval process to protect against counterfeit fraud. Current magnetic stripe technology relies upon static data which makes it much easier to copy and duplicate. More importantly, EMV leverages a small microprocessor (computer) that makes it difficult to duplicate and if duplicated it can be detected by the host system and stopped.

Why EMV?

The biggest benefit of EMV is the upgraded protection against card fraud resulting from counterfeit, lost and stolen cards. EMV also provides interoperability with the global payments infrastructure – consumers with EMV chip payment cards can use their card on any EMV-compatible payment terminal. EMV also provides risk management parameters at the card level and offers both online and offline PIN to help protect against fraud due to lost and stolen cards. EMV technology supports enhanced cardholder verification methods and, unlike magnetic stripe cards, EMV payment cards can also be used to secure online payment transactions.