EMV Workshop Datasheet

EMV is a global standard for credit and debit payment processing cards based on chip card technology. The EMV standards are a series of specifications and testing procedures for EMV chip payment cards and card accepting devices, such as point of sale (POS) terminals and ATMs. This extends to new forms of payment processing as well, such as contactless and mobile payments. Meeting the EMV standards can provide a reduction of credit losses for you and a higher level of security against fraud for your customers.

Since the adoption of the EMV standards around the world, industry reports show a reduction in fraud in countries that carry a high EMV adoption rate (e.g. the countries of Western Europe, Latin America as well as Canada). It is important to note that the fraud is migrating to countries that have low, or non-existent, EMV adoption rates.

The trend toward complete, global adoption of the EMV standards continues and includes critical milestone dates for merchants and ATM operators in the United States.

Consideration of contactless and mobile payments must not be forgotten

The world’s largest payment processing networks are also encouraging merchants to support Near Field Communication (NFC) EMV chip technologies. These technologies will allow consumers to wave their wallets, key fobs and mobile devices near POS terminals to make purchases. This technology should not be discounted in your EMV implementation plan.