How Fraud Is Likely to Increase Post Rollout of EMV Security Chips in Credit Cards

EMV Security ChipsThe fact that the US is finally shifting to credit cards that are embedded with anti fraud computer chips does not mean that there will be a reduction in crimes related to theft from credit or debit cards. In fact, an increase in fraud is more likely to occur.

United States is currently the last developed country to phase out credit cards that use the traditional magnetic strip and use the EMV chip based technology.

Continue reading How Fraud Is Likely to Increase Post Rollout of EMV Security Chips in Credit Cards

EMV Basics and Terminology

EMV Basics and TerminologyEuro MasterCard Visa (EMV) chip technology defines a global standard for credit card and debit card payments.

The EMV technology makes use of embedded microprocessor chips which hold cardholder data and keeps it secure.

In comparison to magnetic stripe technology, a cardholder’s data is more secure on a chip-enabled payment card.  This is because chip technology provides dynamic authentication, which makes the whole process more secure.

Continue reading EMV Basics and Terminology

EMV Benefits: It’s Not Just Security Benefits; it’s Much More than That!

Security BenefitsEMV credit cards use an electronic chip that is built inside them. EMV provides superior security features for credit card processing and credit card merchant services. EMV uses advanced cryptography and digitally-signed payment data which makes the transactions secure.

Advantages of EMV go beyond Better Security Aspects

While EMV is mostly known for the advanced security features it provides, the benefits to the business community, specifically merchant account providers, and consumers, go beyond that. Businesses such as ATMs and fuel stations, , point-of-sale (POS) developers can significantly benefit from the EMV technology.
Continue reading EMV Benefits: It’s Not Just Security Benefits; it’s Much More than That!

EMV Technology: Answering Some FAQs

 

EMV Technology FAQs

EMV is a standard set of specifications for smart card payments and acceptance devices. The cards consist of built-in microprocessors which enhance the security of merchant credit card processing and other merchant account services.

EMV technology enhances security features of retail credit card processing services to a great level. We answer some common queries about EMV, the technology used in it, and other aspects.

Who introduced EMV?

EMV was introduced jointly by the card associations, namely, EuroPay, MasterCard and Visa. This was done for the standardization of credit card processing technologies across the globe.
Continue reading EMV Technology: Answering Some FAQs