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.
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