Contact us

Got a question? Get in touch!

Thank you! Your message has been received and we will be in touch soon.

Oops! Something went wrong while submitting the form :(

Protect Your Business with EMV

Accepting chip card payments
has never been easier
01

What you need to know about EMV

what is it?

Global Standard

EMV (Europay, MasterCard and Visa), is a global standard for credit and debit card processing designed to replace traditional magnetic stripe cards with cards that include a microchip.

Why the change?

Fraud Protection

EMV provides better protection from fraudulent activity such as skimming and the use of counterfeit cards. It has been proven an effective method of reducing point of sale fraud.

WHEN IS the deadline?

Liability Shift

The U.S. deadline for implementing EMV was October 1, 2015. Then, liability for fraudulent transactions has now shifted to those who haven’t upgraded to a compliant solution.

BETTER SECURITY

reduces card fraud

SHOPPER APPROVED

simpler transactions

FASTER CHECKOUT

tap and pay
02

EMV features and benefits

EMV is also referred to as chip and PIN or chip and signature. This smart chip technology consists of a microprocessor embedded into payment cards and smart devices such as mobile phones. The chip card looks like a regular credit card, but its microchip secures payment transactions at the point of sale. However, it requires you have an EMV compatible terminal. 

better security

Chip cards are more secure than regular cards because they offer better encryption. Card disputes will be reduced since the customer keeps their card in hand and security is improved because card data is passed directly to the payment processor.

faster checkout & service

EMV makes transactions simpler and quicker. Instead of swiping the card, it is inserted into, or tapped on the terminal.

INTEROPERABILITY WITH GLOBAL STANDARDS

EMV is part of a global payments infrastructure, so consumers with EMV chip payment cards can use their card on any EMV-compatible payment terminal around the world.

03

How EMV 
transactions work

Chip card inserted into terminal

The consumer has to insert their card into the EMV-enabled terminal with the chip facing up. The chip card must remain in the terminal until the transaction is approved.

When the transaction is complete. the terminal will prompt the cardholder to take back their card. If a cardholder using a chip card swipes it, the terminal software may prompt them to use the EMV method instead.

Contactless EMV method

Contactless transactions are a fast and convenient way to pay securely by waving or tapping a chip-enabled card over a compatible terminal. Examples of contactless payment cards include Visa payWave, American Express ExpressPay and MasterCard PayPass.

PIN entry or signature

To complete the purchase, the cardholder must enter a PIN or sign their receipt. Issuing banks in the U.S. will begin by providing their customers with chip and signature cards to ease the transition to EMV.

On the flip side, a chip and PIN authorization requires the cardholder to enter a four digit PIN (could be more digits), which must correspond to the chip embedded in their card.

Mobile wallets

Most terminals that can accept EMV chip cards also have NFC (Near Field Communication) capabilities. EMV and NFC are complementary technologies that deliver secure payments and value-added functionality. This means mobile wallet payments such as Apple Pay, Google’s Android Pay and others, which are based on NFC technology, can also be accepted if switched on by the merchant and their processor.

04

Contact vs. contactless EMV

transaction type 1

Contact EMV

A contact EMV transaction consists of the following steps:

  1. Cardholder inserts the chip card into the chip reader.
  2. Cardholder follows prompts which may include: language selection, card brand selection, confirmation of amount or PIN entry.
  3. Result of the transaction is displayed and a receipt may be printed.
  4. Cardholder removes the chip card.
  5. In some cases a signature may be required to authorize the transaction.
transaction type 2

Contactless EMV

A contactless EMV transaction consists of the following steps:

  1. Cardholder taps or waves the card over the terminal.
  2. No signature or PIN is required for purchases under the merchant's set limit.
  3. For purchases over the merchant's set limit, the customer may be asked to sign, swipe or insert their card.
  4. A receipt is printed and the transaction is complete.
05

Better security with EMV standards

Did you know?

According to a recent study, U.S. credit card fraud is now a whopping 10 basis points, a 100% increase from just seven years ago, thanks to increasing fraud at the point of sale (POS). Criminals are targeting the U.S. because they are still relying on the less secure magnetic stripe.

Cardholder data is more secure on a chip-embedded card that utilizes dynamic authentication, than on a static mag-stripe card. With EMV, both the terminal and the card play important roles in the authentication process which is not the case when using magnetic stripe technology.

less secure

Magnetic
Stripe Card

  1. Cardholder data resides on a magnetic stripe on the back of the card.
  2. Data is static and can be easily skimmed and used to create counterfeit cards.
  3. The terminal performs all the processing and applies the rules for payment.
more secure

EMV
Chip Card

  1. Cardholder data resides in a secure chip embedded in a plastic payment card or personal device such as a mobile phone.
  2. Fraudsters need physical access to the card and even then, the card itself is extremely difficult to clone, thus limiting any potential damage.
06

Security meets innovation

Chip technology is creating opportunity for innovation within the payments industry and consumers are already embracing new ways to pay. When merchants enable EMV on their payment terminal, customers are able to make purchases more simply and securely than before.

More U.S. banks are already issuing EMV cards to their customers. Merchants need to be prepared to accept these cards or risk losing business from shoppers who are concerned about security. Faster, more convenient transactions are on demand and merchants are under pressure to deliver!

Additionally, business owners with EMV-enabled POS devices reduce PCI scope and associated costs. It's just another incentive to adopt EMV today. EMVELOCITY is helping you gear up as we usher in this new era of payments security.

07

Fraud liability shift deadline

Adoption Rates for Card-Present EMV

The statistics below show the percentage of card-present transactions that are EMV as of 2014. Figures represent statistics from American Express, Discover, JCB, MasterCard, UnionPay and Visa, as reported by their member institutions globally.

USA

14%

Canada, Latin America & the Caribbean

84.7%

Asia 

71.7%

Pacific

Africa 

& the Middle East

86.3%

Eastern 

Europe

99.9%

Western Europe

91.2%

08

Free EMV terminal upgrade

If your current payment terminal is not EMV-capable, you may be eligible for a free upgrade.
Simply complete the form below to see if you qualify.

Thank you! Your submission has been received. We will review your request and get back to you shortly.

Oops! Something went wrong while submitting the form :(