The Many Advantages that You Obtain from the EMV Chip Technology
MasterCard, Visa and the American Express as well as the others are actually pressuring the US market to go for the EMV chip technology instead of maintaining the use of the magnetic stripe cards. Though such magnetic stripe cards have been the standard in America for many decades, the EMV technology has made a promise to revolutionize the US payment ecosystem by providing new benefits to the customers, merchants and also those processors.
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. Such traditional magstripe cards are going to store information in just 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 would actually store the information in such microprocessor smart chips and they get encrypted for protection of data. It is a lot harder to get the data and such means that it is much harder to make fraud cards that would need the technology to duplicate such micro chip and the many encryptions to be able to protect the data.
Those EMV cards do have various options for the cardholder verification that would help protect those consumers as well as businesses from such fraudulent spending as well as transactions. Be aware that the EMV supports the contact, contactless, including the mobile transaction types. Through the contactless transaction, such cardholders will only have to tap their cards on such terminal. With the many modes of card processing, then this makes it more secure and customers can alleviate their worries.
You should also know that such EMV chip technology is a platform for a fast and secure mobile wallet payment that would allow the customers to wave the smartphones on the terminal instead of dipping or tapping your card. Since the mobile wallets are among the other trends in the payment industry, such EMV support for the mobile transactions would permit the merchant to invest in that single system in order to open various options for the customers.
For the card innovations and technology, Andrew Phillips Cliq has certainly helped a lot. With a lot of years in experience, he has made a successful venture. In 2016, he actually took Cliq higher by accepting micro merchant transactions and by also supporting such real-time funding. He works with those clients to make such card-processing programs that are really made uniquely to be able to meet the needs of those individuals. When you are in search for a similar set up of program in your work place then he and Cliq are your best resources.