Devices Needed To Support EMV Chip Cards

There are various devices that are needed to support EMV cards. The devices that required will depend on the level and nature of security threats you are exposed to, as well as the size of the organization. These devices are aimed at ensuring that the objectives of EMV chip card technology particularly provision of fraud are realized. Financial institutions have for very long time faced challenges of security. Fraudsters are devising new ways of perpetrating their vices.

However, many experts seem to agree that EMV chip card technology is one of the boldest steps towards improving and enhancing the security of financial transactions. Businesses that have embraced this technology have realized many benefits. The technology has gained a lot of popularity and wide acceptance these days. When buying and paying for goods or services you may have come across PCI PIN entry devices at the point of sale.

EMV chip card technology has gained lot of popularity these days. EMV is the global standard for debit and credit payment cars which is based on the chip card technology. The standard mainly covers the processing debit and credit card payments by use of card which contains microprocessor chip. It is this card which you swipe at the point of sale terminal. Transactions which are conducted using the cards are mostly known as Chip and PIN because a PCI PIN entry device is needed to verify that the customer is truly the genuine holder of that card. This is a simplification because the EMV specifications include other methods of cardholder verification.

EMV technology has prevailed above magnetic stripe technology. Unlike transactions through magnetic stripe which only track data of the card which contains validity dates and the card number is processed, each single chip card transactions features many pieces of information which are exchanged between the terminal and card and the acquiring host bank. For this to happen, the terminals should perform various complex processing stages including one known as cryptographic authentication, so that the transaction can be completed successfully. The meaning of this is that the addition of support of EMV in to the existing applications of payment can be a task which is daunting.

There are various devices which are needed to support EMV chips. To find out which ones are required in your case, you should first perform an EMV testing. Before the deployment of a solution which is EMV capable, various tests must be passed so that implementation which conforms well to the industry standards can be validated. EMV specifications are updated regularly which has the potential of becoming a major job.

A PCI PIN entry device at once may seem to be a costly investment but it will pay in the long run. Implementation of the EMV chip card technology will improve the efficiency and security of payments and will ensure that all the ways and methods that fraudsters may use to gain private and confidential information of the card holders are completely guarded against. Rate this Article

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Abraham Brown has published 42 articles. Article submitted on December 22, 2013. Word count: 430

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