EMV: The Basics
EMV technology embeds payment account information into credit and debit cards via a microprocessor chip as opposed to storing the information on a magnetic stripe. Each time a transaction is processed using the EMV chip, a unique cryptogram is exchanged with the merchant's chip reader which makes it impractical for data thieves to create counterfeit credit and debit cards. Implementing the EMV standard in the United States will help to maintain the integrity of our electronic payment systems, decrease data security risks associated with sensitive cardholder data and reduce credit and debit card fraud.
Below you'll find answers to some of the most common questions regarding EMV: