EMV

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EMV

(Europay, MasterCard and Visa) The international standard for smart credit and debit cards that have a built-in microprocessor (chip cards). Governed by EMVCo LLC. (www.emv-usa.com), the EMV smart card provides greater safety than a magnetic stripe card because it uses more sophisticated security methods. EMV supports encryption as well as tokenization, which dynamically assigns a number to the transaction in order to hide the customer's card number (primary account number).

Authorization Methods
When making a purchase, Chip and PIN systems require card holders to enter their personal identification number (PIN) into the merchant's terminal. Chip and Signature requires a user's written signature. See smart card and gold chipped supercomputer.
References in periodicals archive ?
Nasdaq,TASE:LPMA) today announced EMVCo has awarded the Company EMV 2000 approvals for its NURIT Point-of-Sale terminals and PIN pads.
In December 2000, EMVCo published the EMV 2000 (Version 4.
The xe-series is equipped with a new generation of card readers, certified to EMV 2000 and offers both the latest security technology and the most extensive investment protection in card processing.
TDK Semiconductor offers to help customers through the EMV 2000 Level 1 (EuroPay/MasterCard/Visa) smart card terminal type approval, and provides testing application software.
The new version contains a range of features designed to tackle many of the industry's most pressing needs and takes full advantage of the benefits brought by EMV 2000.