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What is EMV?

• EMV is a technical standard for smart payment cards and for payment terminals and automated teller machines that can accept them.
• EMV cards are smart cards (also called chip cards or IC cards) which store their data on integrated circuits rather than magnetic stripes.

EMV Implementation

• Visa
• MasterCard
• American Express
• Discover/Diners Club International

EMV Statistics

• The US has 50% more fraud then the rest of the world as compared to payment volume.
• Estimated 90% of counterfeit card fraud in the US could be eliminated with EMV deployment.

EMV Benefits for Merchants

• Increases security and fraud protection to reduce card present fraudulent transactions and charge-backs:
  • Reduces skimming at the point of sale
  • Enables increased PIN use for stronger cardholder verification
  • Helps prevent the use of counterfeit, lost and stolen cards

• Improves customer service:
  • Enables PIN transactions for both credit and debit cards, reducing time needed to obtain a signature and the need for authorization referrals.
  • Supports contactless transactions which are approximately 53% faster than a traditional magnetic stripe card transaction.

• Enables merchants to offer cardholders a secure payment of their choice:
  • Meet expectations of cardholders who want more secure payment transactions
  • Accept foreign cards that are already EMV enabled

• Drives innovation in emerging consumer technologies:
  • Chip-based applications can be embedded into a mobile wallet, enabling consumers to pay via their mobile devices.
  • Chip card technology works on the same technology that enables mobile payments at the POS