What is EMV?

EMV is named after the original organizations that created the technology specification, Europay, Mastercard and Visa.

A card that is enabled with EMV has a microchip that is used to send transaction data. EMV transactions require either a Personal Identification Number (PIN) or a traditional receipt signature.

Further Reading…

Are you ready for EMV at your ATMs?

EMV payment technology, commonly known as “chip” payment technology will soon effect all ATMs in the United States!

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EMV Chip & PIN Process Flow

1-1

The consumer inserts their EMV chip & PIN credit card into an EMV-enabled device

1-2

The consumer is prompted to enter a PIN for cardholder verification

1-3

The transaction is processed and removed from the terminal

1-4

EMV transaction complete

EMV Chip & Signature Process Flow

1-1

The consumer inserts their EMV chip & PIN credit card into an EMV-enabled device

2-2

A signature is required for cardholder verification

2-3

The transaction is processed and removed from the terminale

2-4

EMV transaction complete

The History of EMV

1984

1984

Chip technology was implemented by French banks due to high levels of fraud
1990

1990’s

Various other European countries issued chip based payment cards
1994_2

1994

Europay, Mastercard and Visa joined forces and created the global specification known as EMV
2004

2004

JCB joined the EMV
Further Reading…

EMV Readiness Survey Report

ATM Industry Association Sponsored Survey Conducted by the ATMIA U.S. EMV Migration Committee

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2015

2015

Visa will implement a liability shift for fraudulent EMV card present transactions, away from the issuers, to the merchant acquirer, if the merchant cannot accept EMV transactions
2013

2013

U.S. acquirer processors and sub-processors are required to support EMV transactions
2009

2009

American Express joins the EMV

EMV Around the World


map_emv

EMV Deployments Map via Bankrate

emv_deploy EMV/Chip cards in deployment
emv_prep EMV in preparation

U.S. EMV Migration Timeline


emv_timeline

Information by Diebold

Taking Measures Against Fraud


Diebold ActivEdge: The world’s most secure anti-skimming card reader.

Further Reading…

Diebold ATM Skimming

Did you know according to the U.S. Secret Service, the cost of ATM Skimming in the U.S. has risen to $50,000 (clearing throat) PER INCIDENT!

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Where does Fraud Come From?


map_fraud

Take the EMV Quiz

EMV Quiz
Sending

Sources


  • EMVCo, LLC A Guide to EMV- Version 1.0 May 2011
  • http://www.digitaltransactions.net/news/story/3957
  • http://www.kansascityfed.org/plublicat/econnev/pdf/13qiSullivan.pdf
  • http://www.digitaltransactions.net/news/story/3910
  • http://www.digitaltransactions.net/news/story/3730
  • 2012 MasterCard Worldwide Investment Community Meeting