1

WHAT IS EMV?

EMV, an acronym of Europay International,

MasterCard and Visa, joined in 1994 to
provide a worldwide standard for the
interaction between chip-based "smart cards"
and approved payment devices.
It is a security framework that defines the
payment interaction at the physical, electrical,
data and application levels between the chip
cards and the payment device. Also known as
"Chip and PIN" in the U.K., it's the name for
the technology that enables payments using a
smart card with a chip inside of it.
2

HOW DOES IT WORK?

Smart cards are embedded with a chip that

is encrypted with data. EMV-enabled devices
have the ability to read data stored on a chip
within the card. During the transaction
authorization process, strong cryptographic
functions are used to validate the
authenticity of the card and cardholder.
Best of all, when a customer pays using an
EMV-enabled device, the device is instantly
identified as an authentic, approved payment
instrument through a process called dynamic
authentication. When used with a PIN, the
chip proves that the customer is paying with
his or her own card.
By using chips as an active part of the
payment transaction, EMV cards and
devices help prevent credit card fraud from
stolen account numbers and cloned payment
cards.
3

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VeriFone VX 520 EMV Credit
Card Machine

VX 520 EMV

Are You Ready

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on October 2015?

CONTACT

Carl Anderson, Agent #9598

(817) 851-7053
carl9598@mcpsfl.com
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