EMV (Europay®, MasterCard® and Visa®) is a global, open-standard set of specifications for smart cards and compatible acceptance devices (ATMs, merchant terminals, etc.). Originally developed by Europay, MasterCard and Visa, the EMV specifications define requirements to ensure interoperability between chip-based payment cards and terminals that authenticate credit and debit card transactions. EMV chip cards contain embedded microprocessors that offer greater transaction security (and other capabilities) than the magnetic stripe card technology used in the U.S.
Here are answers to the common questions U.S.-based financial institutions have about adopting the EMV card technology.
Greg Kuyava, manager of sales and marketing, Card Services, at Harland Clarke and Tom Hedrich, vice president of Business Development at EFT Source, address some common questions about instant issuance programs and the Card@Once® product. Download Q&A.