n safeguarding consumer payment data through advanced technologies such as point-to-point encryption, tokenization and methods of cardholder authentication that go beyond current Payment Card Industry Security Standards Council (PCISS) requirements, the major credit card companies are continuing their efforts to deploy their proprietary EMV technology.Įven though the EMV (Europay, MasterCard and Visa) system is nothing new (it was developed more than 20 years ago), the card companies insist that it is a necessary and logical step for U.S. Also the credit card breaches are having a negative impact on consumer sentiment and retail sales. In the current Retail industry there are data breaches being reported on a periodic basis. What - Why - How and When - All about EMV.ĮMV stands for Europay, MasterCard and Visa, a global standard for inter-operation of integrated circuit cards (IC cards or "chip cards") and IC card capable point of sale (POS) terminals and automated teller machines (ATMs), for authenticating credit and debit card transactions.
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