What Research About Security Can Teach You

What Benefits You can Get from the EMV Chip Technology

Visa, American Express, MasterCard and all others are pressuring the US market to make a change from that magnetic stripe cards to those new cards using the EMV chip technology. The magstripe cards may have been the oldest and the standard in America for many years, such EMV technology has surely promised to change the US payment ecosystem by providing those new benefits to the customers, processors and merchants.

A great thing about the EMV cards is that such would allow more secure transactions. The big sell when it comes to the EMV cards is that they provide a much better transaction security to the different parties involved when it comes to the payment process. Those tradition magstripe cards would store different information in only one magnetic stripe. Though this would permit a simple swipe to accomplish a transaction, it means that the card’s information may be intercepted by the skimmers and then used for making fraudulent cards.

The EMV cards are storing the information in the microprocessor smart chips and they would then be encrypted for such data protection. It is much harder to obtain data and this would mean that it is also more difficult to make fraudulent cards which need the technology to copy the micro chip as well as those encryptions in order to protect such data.

Also, the EMV cards have many options for the cardholder verification which would help in protecting the consumers and businesses from those fraudulent spending and transactions. You should also know that the EMV supports such contact, contactless as well as the mobile transaction types. With such contactless transaction, the cardholders will just have to tap their cards on the terminal. By the many modes of card processing, then this makes it much more secure and those customers can minimize their worries too.

You must also know that the EMV chip technology is one way for a fast and also secure mobile wallet payment allowing the customers to wave the smartphones on such terminal rather than dipping or tapping the card. The EMV also supports mobile transactions since the mobile wallets have become popularly-used in the payment industry and with this, the merchant can provide several options to the customers.

For the card innovations and technology, Andrew Phillips Cliq has certainly helped a lot. With so many years of experience under his belt, Andrew Phillips made a new venture. In 2016, he actually took Cliq higher by accepting micro merchant transactions and by also supporting such real-time funding. He is working with the clients in creating card-processing programs that are made uniquely to meet the individuals’ needs. Cliq is surely a great resource that you can go for when you need the same set up of programs for your place of work.