EMV cards real domain knowledge to read today

The full form of EMV you can say as Europay Master card and Visa card. You can also call these kind of cards as Chip and Pin.

credit card with emv feature
credit card with chip option

Who regulates EMV cards

These are regulated by Integrated circuit card specifications – ICC.

EMV co LLC

This company is having major partners of JCB, Master card, Visa and American Express. Apart from that you can read full list here.

  • VIS – Visa
  • Mastercard chip – Mastercard
  • AEIPS – American Express
  • UICS – China Union Pay
  • J Smart – JCB
  • D-PAS – Discover/Diners Club International.
  • Rupay – NPCI
The ISO/IEC 7816 tells about EMV cards.

Chip and Magnetic stripe cards

Chip and Magnetic strip cards you can call them as Dual cards.

These dual cards sometimes, the fraudsters, remove the chip details and force the transaction through magnetic stripe cards.

That is the reason, the major credit card processors tracking now the transaction passed through magnetic strip when chip is available on that card.

In the credit cards domain EMV technology is a part of it and useful to avoid fraud.

EMV ATM cards

EMV or chip cards you can use at POS machines or at ATM machines to withdraw money.

EMV cards are more secure than magnetic stripe cards.

Process of EMV chip cards

EMV chip card transactions improve security against fraud compared to magnetic stripe card transactions that rely on the holder’s signature and visual inspection of the card to check for features such as hologram. The use of a PIN and cryptographic algorithms such as Triple DES, RSA and SHA provide authentication of the card to the processing terminal and the card issuer’s host system.

Related Posts

Advertisements

Author: Srini

Experienced software developer. Skills in Development, Coding, Testing and Debugging. Good Data analytic skills (Data Warehousing and BI). Also skills in Mainframe.