What is EMV?
EMV is the chip card technology standard developed by EuroPay, MasterCard® and Visa®. EMV chip cards enhance transaction security, promote a common cardholder experience and improve customer confidence.
Why chip card technology?
EMV, or chip card technology, is a more secure way to pay and accept payments. The chip in the credit card makes it extremely difficult to use a cloned card fraudulently in-store.
This short video outlines the case for implementing EMV technology.
Card issuers are sending consumers new credit cards that have the chip to reduce the risk of credit card fraud. On October 1, 20151, any merchant who does not have equipment to accept EMV chip cards may be held responsible to pay for losses resulting from in-store fraud.