What You Should Know About EMV Credit Card Chips (videos)
What You Should Know About EMV Card Chips - Chase Ultimate Rewards and EMV Chip director Dina Demerell and Bloomberg’s Ben Steverman discuss the Europay, Mastercard and Visa initiative. They speak with Bloomberg’s Matt Miller on “Bloomberg Markets," October 1, 2015.
Will Chips Make Credit Cards More Secure? - Stephanie Ericksen, vice president of risk products at Visa, discusses the move to chip technology in the credit card industry and the shift in fraud responsibilities from the card companies to merchants. She speaks on "Bloomberg Markets," October 1, 2015.
EMV is a technical standard for smart payment cards and for payment terminals and automated teller machines which can accept them. EMV cards are smart cards (also called chip cards or IC cards) which store their data on integrated circuits rather than magnetic stripes, although many EMV cards also have stripes for backward compatibility. They can be contact cards which must be physically inserted (or "dipped") into a reader, or contactless cards which can be read over a short distance using radio-frequency identification technology. Payment cards which comply with the EMV standard are often called chip-and-PIN or chip-and-signature cards, depending on the exact authentication methods required to use them. EMV stands for Europay, MasterCard, and Visa, the three companies which originally created the standard. The standard is now managed by EMVCo, a consortium with control split equally among Visa, Mastercard, JCB, American Express, China UnionPay, and Discover. (Wikipedia)
