EMV chip technology

EMV chip technology is a security standard for credit and debit cards, named after its developers: Europay, MasterCard, and Visa. Unlike traditional magnetic stripe cards, EMV cards contain a small embedded chip that generates a unique transaction code for each use. This makes it harder for fraudsters to create counterfeit cards. When you use an EMV-enabled card, you either insert it into a terminal or tap it near a reader. The chip communicates securely with the payment terminal, ensuring the transaction is authenticated, which enhances security and reduces the risk of card fraud.