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Emv Flyer

EMV is a global standard for chip-based credit and debit card payments that aims to reduce fraud. It uses embedded microchips in cards and point-of-sale terminals capable of dynamic authentication during transactions. Smart cards contain encrypted data that terminals can read to validate authenticity. When used with a PIN, the chip proves the customer is paying with their own card. Adopting EMV technology helps prevent fraud from stolen account numbers and cloned cards.

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126 views1 page

Emv Flyer

EMV is a global standard for chip-based credit and debit card payments that aims to reduce fraud. It uses embedded microchips in cards and point-of-sale terminals capable of dynamic authentication during transactions. Smart cards contain encrypted data that terminals can read to validate authenticity. When used with a PIN, the chip proves the customer is paying with their own card. Adopting EMV technology helps prevent fraud from stolen account numbers and cloned cards.

Uploaded by

api-279016762
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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1

WHAT IS EMV?

EMV, an acronym of Europay International,


MasterCard and Visa, joined in 1994 to
provide a worldwide standard for the
interaction between chip-based "smart cards"
and approved payment devices.
It is a security framework that defines the
payment interaction at the physical, electrical,
data and application levels between the chip
cards and the payment device. Also known as
"Chip and PIN" in the U.K., it's the name for
the technology that enables payments using a
smart card with a chip inside of it.
2

HOW DOES IT WORK?

Smart cards are embedded with a chip that


is encrypted with data. EMV-enabled devices
have the ability to read data stored on a chip
within the card. During the transaction
authorization process, strong cryptographic
functions are used to validate the
authenticity of the card and cardholder.
Best of all, when a customer pays using an
EMV-enabled device, the device is instantly
identified as an authentic, approved payment
instrument through a process called dynamic
authentication. When used with a PIN, the
chip proves that the customer is paying with
his or her own card.
By using chips as an active part of the
payment transaction, EMV cards and
devices help prevent credit card fraud from
stolen account numbers and cloned payment
cards.
3

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CONTACT

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carl9598@mcpsfl.com
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