EMV®

If you’re involved in the payments industry today, you’ve probably heard about EMV. But, you may not be clear on what it is and what it means for you.

Get in touch

See how we can help. Contact us today!

EMV

Developed jointly by Europay, MasterCard®, and Visa® in the mid-1990s, EMV is a set of Integrated Circuit Card Specifications for payment systems that helps to facilitate interoperability between chip cards and terminals for both credit and debit transactions.1

The most important feature of EMV is the dynamic data generated with each transaction, making the creation of counterfeit cards nearly impossible.

EMV chip technology will be required in the United States by October 2015 to better protect merchants and consumers from counterfeit fraud.

1EMV is a registered trademark in the U.S. and other countries, and is an unregistered trademark in other countries, owned by EMVCo. MasterCard is a registered trademark of MasterCard Worldwide or its subsidiaries in the United States. Visa is a registered trademark of Visa International Service Association and others in the United States and other countries.

Some key market drivers for the U.S. implementation of EMV include:

  • New brand rules/mandates
  • Fraud protection
  • Movement towards mobile
  • The U.S. is the last major country to migrate to the standard