EMV
Stands for Europay, MasterCard and Visa, but what is it? A global standard for
payments cards based on chip technology. The card is developed by three
companies and now supported by several other companies like Discover, American
Express and UnionPay the cards have microprocessor chip inside that protect the
interest of the consumers and reduce the fraudulent activities while you’re
making payments.
The new
technology is being developed to secure the payments security and protect the
interest of international and local customers. EMV cards add extra power and
technology to merchants and financial institutions in their processing systems.
When swipe EMV chip cards every time it generates a unique code that get
recognized with each purchase “the code generated takes into account numerous
different variables and is not linked to a card member’s account.”
EMV
cards are the better protector of counterfeit fraud. The process makes chip
card information more difficult to steal and therefore makes a chip card more
difficult to counterfeit, said Dina DeMerell, executive director of payments
security at Chase Card Services. For better processing with EMV cards follow as
on - http://www.radiantpay.com/merchant.html
