"EMV® is a global standard for credit and debit payment cards based on chip card technology" taking its name from the card schemes Europay, MasterCard, and Visa that developed it. The standard covers the processing of credit and debit card payments using a card that contains a microprocessor chip at a payment terminal.
These transactions are often referred to as "Chip and PIN" because PIN entry is required to verify the customer is the genuine cardholder. This is a simplification since the EMV specifications include other cardholder verification methods as well.
Unlike magnetic stripe transactions, where typically only the card's track 2 data containing the card number and validity dates is processed, every chip card transaction contain dozens of pieces of information to be exchanged between the card, the terminal and the acquiring bank's host.
This requires the terminal to perform many stages of complex processing, including cryptographic authentication, to successfully complete a transaction. This means that adding support for EMV to existing payment applications can be a daunting task. For more info on the main processing steps required for EMV, take a look at this diagram showing a typical EMV transaction flow.
NB. The demands of providing an EMV solution do not stop once the necessary processing has been implemented.
If you are looking to migrate to EMV in the USA, please take a look at our more detailed EMV page dedicated to the U.S. EMV migration.
EMVCo published it's latest EMV deployment figures in May 2012. 45 per cent of all payment cards and 76 per cent of payment terminals used globally are based on EMV technology. There are over 1.5 billion EMV payment cards in circulation (up by 25% since 2011) and 21.9 million EMV terminals (up by 18% since 2011).
Before an EMV-capable solution can be deployed, there are many tests that need to be passed to validate that the implementation conforms to the EMV industry standard, and as the EMV specifications are regularly updated this can become a major job in itself - another reason why many businesses who require an EMV "Chip & PIN" or "Chip & Signature" solution opt to license a purpose-built EMV Software Kernel rather than develop their own.
To understand more about some of the terminology used in EMV, take a look at our glossary of terms.
EMVCo is owned by American Express, JCB, MasterCard and Visa, and manages, maintains and enhances EMV Card Specifications to ensure global interoperability of chip cards with acceptance devices such as point of sale terminals and ATMs.
All our Kernels are EMVCo certified and currently have a 100% first time pass rate.
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EMV Software for US EMV Migration
The US migration to EMV Chip Technology is imminent - we can help hardware manufacturers for Point of Sale devices, ATMs, vending machines, kiosks, ticketing machines etc. reduce risk, complexity, cost, and time-to-market. Read more [+]
Simple and rapid way of adding EMV Level 2 functionality to payment applications within the Windows environment. Read more [+]
Add card support to payment applications independent of device manufacturers. Read more [+]
Add EMV Level 2 functionality to Java based payment applications. Read more [+]
Support for new generation payment applications requiring contactless (NFC) card acceptance. Read more [+]
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