What is EMV?

EMV is a new equipment standard for all credit cards. EMV cards have an embedded microchip, that when combined with a signature or PIN, authenticate the card and improve identity verification. EMV, which stands for Europay, MasterCard, and Visa, was created by those card issuers to reduce the issuers’ costs of fraud in ‘Point of Sale’ transactions involving counterfeit cards.


EMV makes cloning cards much harder, by dynamically generating a unique transaction code for each transaction, rather than storing all card data statically on a magstripe.  By making card-counterfeiting harder, EMV should limit criminals’ use of counterfeit cards to commit fraud with a physical card at point of sale.  The EMV shift does not impact e-commerce or lost/stolen card transactions, or software-only solutions like Flint.

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