What is EMV?

EMV is the new standard for paying with debit and credit cards.

EMV Coalition

Developed jointly by Europay, Mastercard, and Visa in the mid-1990s, EMV is a global standard for credit and debit payment cards based on chip card technology.

World Standard

Most of the world has already converted to the EMV standard. The United States is behind in making this transition, but deadlines are coming soon.

Smart Cards

An EMV card is the same size and thickness as a standard magnetic-stripe card, however it includes a chip on the front of the card. This chip encrypts payment information, making it impossible to steal private payment information.

U.S. Fraud on the Rise

The cost of a skimming incident in the U.S. has risen to $50,000 on average, up from $30,000 a few years ago, according to a report from the U.S. Secret Service. Fraud costs for the U.S. payments industry are an estimated $8.6 billion yearly*.

Credit Card Sales World

U.S.

Fraud Worldwide

U.S.

EMV technology has already impacted the rate of fraud in regions that have adopted it. The UK Cards Association reports fraud on lost or stolen cards is at its lowest level in two decades.

*Aite Group, 2011

Liability Shift

Credit card issuers currently cover any fraudulent use of accounts. In the future, issuers will only cover fraud on EMV transactions. For non-EMV transactions, liability for fraudulent activity shifts to ATM operators and merchants.