EMV payment firm? Ideally, it’s customer facing and can detect when a chip card is swiped, prompting the customer to insert the card instead. Proper EMV processing protects businesses from bank-initiated chargebacks. Simple enough, right? It’s actually not. Every terminal must go through extensive testing to become EMV certified. Let’s get these levels of EMV certification explained.
EMV initially prevented fraudulent “card-present” transactions because the chip card, which encrypts the data and generates a unique transaction code for each purchase, was considered extremely difficult to duplicate. However, in 2018, crooks in Brazil were the first to figure out how to create valid EMV duplicates. See 3-D Secure.
If you are looking to migrate to EMV in the USA, please take a look at our more detailed EMV Page dedicated to U.S. EMV Migration. EMVCo published its latest EMV deployment figures in June 2016. In 2015, 35.8% of all chip card-present transactions – both contact and contactless – used EMV chip technology, this is up from 32% compared to 2014. There are now over 4.8 billion EMV payment cards in circulation, which is an increase of 1.4 billion in 2014.
We know, it is crucial to get it done under tight time in the market limitations. Our team which more than 18 years of experience did a lot of EMV certification and has been giving consultancy all over the world. EMV payment training and consultancy services: EMV Roadmaps, new standards, and easier EMV configuration are just the beginning. Discover extra info on EMV payment services.