What is EMV? How does it work?

EMV technology is transforming the U.S. payment industry, bringing a whole new experience to checkout counters. EMV cards are stepping in as a more secure way to pay. These cards are equipped with a “smart chip” which is capable of much more sophisticated authentication than magnetic stripe cards. Essentially, there is a fully operating computer system embedded in every EMV card. The chip is tamper-proof, making the card nearly impossible to clone.

What is EMV? EMV is a security framework that defines the payment interaction at the physical, electrical, date and application levels between chip cards and payment devices. These interactions are often referred to EMV level 1 and 2 requirements. EMVCo was created by the payment networks to be a neutral party in making this standard framework. 

How does it work? Smart cards are embedded with a chip that is encrypted with data. EMV enabled devices have the ability to read data stored on a chip within the card. During the transaction authorization process, strong cryptographic functions are used to validate the authenticity of the card holder. Best of all when a customer pays using and EMV enabled device, the device is instantly identified as an authentic, approved payment instrument through a process called dynamic authentication. When used with a PIN, the chip proves the customer is paying with their own card. 

Let Verifone Be Your Guide Verifone, the leader in integrating EMV into payment solutions worldwide, is the perfect partner during this transition. We have years of experience helping thousands convert to EMV with hardware, software and managed services





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