All of that has to do with a liability shift that took place in October 2015 - but the plans were already in motion years before that. You might be wondering why chip cards have suddenly appeared on just about every single card a customer has. The key takeaway here? That tiny little computer chip in a credit or debit card is way more powerful than the magnetic stripe on the back of the card and therefore makes it harder for scammers to steal or use stolen credit card numbers. (It’s not such good news for online businesses, because instead of cloning cards, scammers are simply moving to the Internet to make their purchases.) That’s good news for anyone who runs a brick and mortar storefront - EMV protects you against some kinds of chargebacks by preventing fraudulent transactions from being possible in the first place. A skimmer is just a piece of hardware installed over a magstripe terminal that copies the card data when a card is swiped - the scammer installs the skimmer on a terminal and then retrieves it later to harvest the card data, presumably to sell to someone else who will try to use it to make expensive purchases online, or clone a card for themselves.ĮMV chip cards help reduce card-present card fraud, which has been rampant in the US for a while now.
#EMV CARD SOFTWARE VERIFICATION#
EMV prevents cloning, and because the verification process is dynamic (it generates a unique code each time the card is used, whereas magstripe transactions use a static code), it also helps prevent theft of the card using a skimmer. Magstripe cards are relatively easy to “clone” - that is, to copy a stolen card number onto a blank card to be used at a brick and mortar store. I’m going to get a little bit technical here, so please bear with me. These computer chips can store and process much more data than the magnetic stripes on cards, which makes them much harder to counterfeit. EMV has been the dominant technology in Europe and Canada for decades, but most of the world has switched over to EMV.ĮMV uses a computer chip to perform complex, dynamic verification that the card is genuine. It’s actually the name for a set of security standards used for credit card processing.
![emv card software emv card software](http://cards.mk/assets/cms/uploads/images/EMV-Perso-Validation_DVD_image.png)
So we’ve talked about how EMV cards require you to “dip” the chip (a phrase that always reminds me of endless chips and salsa at my favorite Mexican restaurant.) But why? What makes EMV more complicated than standard magnetic stripe (magstripe) transactions?ĮMV simply stands for EuroPay, Mastercard, and Visa, the organizations that pioneered the technology.
#EMV CARD SOFTWARE SOFTWARE#
The Best Invoice Software For Small Businesses.Everything You Need To Know About Small Business Payroll.Xero VS Sage VS QuickBooks: Which Is Better?.Using Personal Credit Cards for Business.Dos And Don'ts Of Business Credit Cards.The Complete Guide To Understanding A POS System’s Offline Mode & Credit Card Processing.
![emv card software emv card software](https://static.wixstatic.com/media/f7b02f_45dd5cd134724130b23e701b0f1f64ff~mv2.jpeg)
#EMV CARD SOFTWARE HOW TO#
The Retailer’s Inventory Management Guide: How To Use Your POS To Maximize Success.