EMV stands for Europay International, MasterCard, and Visa and helps stop counterfeiting and fraudulent payments.
Rather than a magnetic stripe, EMV uses a microprocessor chip embedded in the card.
EMV cards can be either debit cards or credit cards and are often referred to as chip cards or smart cards.
It’s no secret that payment card fraud is a growing problem all over the world. Between rising fraud rates and the October 2015 EMV liability shift, there’s no doubt you are starting to see more credit card issuers and financial institutions delivering EMV cards to their accountholders. You’re probably starting to see more EMV chip card-enabled terminals as well.
To make sure that you’re in the know about EMV chip card technology, below are answers to some of the most common questions surrounding EMV.
