What Are the Advantages Of EMV Cards?

EMV technology is a widely discussed topic especially taking into account the approaching deadline. So what is the main goal of EMV technology adoption? This technology can provide the higher level of cardholder’s data protection and decrease the level of card fraud. Previously chip cards were used to prevent credit card forgery while it is much easier to forge a magnetic stripe card in comparison with an EMV chip embedded one. There are several additional advantages of chip cards. They are listed below.

• Larger capacity. Some additional information can be recorded onto a chip in comparison with magnetic stripe.
• Interactive mini-application. Due to the higher amount of the available space on the chip an interactive mini application can be recorded on it which can help to customize cardholder’s experience (based not only on the card issuer but also on place where the card was used).
• Point encryption. The usage of the point-to-point encryption reduces the possibility of data breach and provides the higher level of cardholder’s data protection.
• Data flow reduction. With the usage of the EMV technology the information is passed from the terminal directly to the gateway or the processor. Consequently, there are fewer weak places where the data can be stolen.

In order to find out more about EMV technology and the benefits of the EMV cards visit #Paylosophy blog and have a look at the article ‘The Benefits of EMV Cards’ there.