What is EMV?

EMV is an embedded microprocessor chip on debit and credit cards. Every transaction creates a unique and secure impression, making it impossible to replicate.

Is this new technology?

Chip cards have been used for years all around the world. The United States is one of the last major markets that is making the switch from magnetic-stripe cards to the chip cards.

Magnetic Strip Card
EMV Chip Card

What does EMV stand for?

The abbreviation EMV came from Europay, Mastercard and Visa, the three organizations that developed the initial specifications for EMV.

What are the benefits?

The reduction of fraudulent transactions from cards that have been lost, stolen or counterfeited.

How secure is it?

It uses a three step process to verify card authentication, cardholder verification and transaction authorization.

Are chip cards processed the same way?

Chip cards are inserted, or “dipped,” into the payment device and left in place for the entire transaction as the reader and card talk back and forth.

What's changing on October 1, 2015?

The liability for certain kinds of fraud transactions will shift to businesses instead of the issuer.

Liability_Diagram

What does it mean for your business?

It means less fraudulent transactions with better data security, while protecting your business and consumers during in-person transactions.