EMV

EMV Chipped Credit Card Processing

How do I use an EMV card to make a purchase?

Is their a signature or pin involved with EMV Transactions?

Do EMV cards work with retailers without EMV Payment processing?

How secure are EMV Chip Cards?

What risks are associated with EMV Chip Cards and EMV Credit Card Terminals?

How do I use an EMV card to make a purchase?

Similar to regular credit and debit cards, EMV payment processing use a system of card reading and transaction verification in order to process payments; however, cards are read differently. Instead of swiping cards through a reader, clients use what is called “dipping” to insert their card into an EMV smart card reader, then wait for the information to be processed.
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Is a signature or pin involved with EMV Transactions?

EMV Transactions do require manual verification; however, the verification method depends entirely on the card itself, not on the terminal. The PIN method is preferred by most users since it provides real time transactions, but reader without PIN-reading capabilities may simply use signatures.
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Do EMV cards work with retailers without EMV Payment processing?

Yes. Many cards are equipped with both magnetic strips and chips for customer convenience. In most instances, customers who are not sure about whether to dip or slide their card will be walked through the process by the terminal itself. When this process rolls out in the United States, Cards Not Present transactions (CNP) or credit card terminals that are not enabled with chip technology will shift the liability to the merchant processor in the event of fraud. As a merchant, it will be important to update your credit card processing equipment to read EMV cards to protect your assets.
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How secure are EMV Chip Cards?

EMV Chip Cards include some of the most secure technology currently available in the financial sector. This technology has been available for over 30 years, already acknowledged as the security standard in many countries around the world. EMV technology uses a unique technology to determine the card’s authenticity, making fraud and counterfeit transactions much more difficult.
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What risks are associated with EMV Chip Cards and EMV Credit Card Terminals?

The risks associated with EMV payment processing are virtually the same as those associated with credit and debit card transactions, though on a much lower scale. All financial data transactions are subject to fraud and breaches; however, EMV technology adds an added layer of security to prevent these from occurring.
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