EMV payment training and consultancy services? Wondering what all the fuss is about with EMV-certified terminals? Since the liability shift both providers and businesses have scrambled to obtain compliant equipment. Designed to decrease fraud, the EMV terminal reads the unique, one-time code generated when a chip card is inserted. This is a distinct process that requires a separate slot for inserting a chip card compared to the component used for swiping magstripe cards.

EMV initially prevented fraudulent “card-present” transactions because the chip card, which encrypts the data and generates a unique transaction code for each purchase, was considered extremely difficult to duplicate. However, in 2018, crooks in Brazil were the first to figure out how to create valid EMV duplicates. See 3-D Secure.

What is EMV Chip Card Technology? “EMV® is a global standard for credit and debit payment cards based on chip card technology” taking its name from the card schemes Europay, MasterCard, and Visa – the original card schemes that developed it. The standard covers the processing of credit and debit card payments using a card that contains a microprocessor chip.

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