EMV chip card technology is a global standard for credit and debit payment cards. It covers Europay, Mastercard and Visa (hence the initials). But you’re probably more used to it as it’s more commonly known – chip and pin.
As you’d expect from a gold standard, the EMV chip card technology in chip and pin is crucial for both debit card manufacturers and credit card manufacturers.
EMV chip and pin creates unique transaction data so that even if intercepted by fraudsters, the data cannot be used in subsequent transactions. In short, EMV protects against counterfeiting.
EMV requires the customer to enter a pre-set PIN before the transaction will initiate. This ensures the person making the transaction is the legitimate cardholder and protects against lost and stolen cards.
EMV authorises transactions two ways: online – the terminal sends the unique transaction data to the card issuer to verify. And offline – the terminal and card jointly determine, based on risk parameters, whether to authorise. EMV chip cards can be programmed to permit both forms of transaction.
EMV chip card technology is just one of the card interfaces we offer, securely communicating your data as our number one priority. The others we can provide are chip, magnetic stripe and contactless. You can learn more about our payment cards here.
Or, why not play with the interactive card we created that explains the technology in our cards? Scroll down the page and click the crosses to get more information!
As an end-to-end partner, Thames Technology is proven at both launching a wide range of cards and managing existing programmes. Contact us to find out how.