EMV Chip Card Technology
EMV is a fraud-reducing technology that can help protect issuers, merchants and consumers against losses from the use of counterfeit and lost or stolen payment cards at the point-of-sale. EMV cards are embedded with a microprocessor or smart chip that interacts with the merchant’s point-of-sale device to make sure that the payment card is valid and with the use of a PIN that it belongs to the person using the card. This kind of chip technology adds layers of security against fraud and is virtually impossible to duplicate.
Why EMV Technology?
Ensure that only the rightful card owner can use the chip card, protecting against lost or stolen card fraud. Protect data on the chip against unauthorized changes, protecting against counterfeit fraud. Enable U.S. cardholders to use their secure chip payment cards anywhere in the world.
EMV for Merchants
The EMV–enabled payment card has successfully reduced face-to-face fraud around the world – and is now making its way into your customers’ wallets. With a “future proof” terminal or peripheral, you can accept EMV cards now. And because EMV technology makes payment cards virtually impossible to copy and a PIN can verify the cardholder’s identity, merchants can significantly reduce the possibility of accepting counterfeit, lost or stolen cards. EMV technology provides:
Increased security and fraud protection to reduce some types of fraudulent transactions and charge-backs
Reduces skimming at the point of sale
Enables increased PIN use for stronger cardholder verification
Helps prevent the use of counterfeit, lost and stolen cards
Meet expectations of cardholders who want more secure payment transactions
Accept foreign cards that are already EMV enabled