Various Good Things About the EMV Chip Technology
Visa, American Express, MasterCard and all others are pressuring the US market to make a change from that magnetic stripe cards to those new cards using the EMV chip technology. The magstripe cards may have been the oldest and the standard in America for many years, such EMV technology has surely promised to change the US payment ecosystem by providing those new benefits to the customers, processors and merchants.
What is great about such EMV cards is that this is going to let you go for more secure transactions. What is the huge sell in the EMV cards is that they are going to provide several much better transaction security to several parties who are involved in processing car payments. 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.
Such EMV cards would store the information in the microprocessor smart chips and they are then encrypted for data protection. It is a lot more difficult to get the data and this means that it is harder to create fraud cards requiring the technology to duplicate the micro chip and also the encryptions in order to protect the data.
EMV cards also have a lot of options for such cardholder verification that helps to protect the consumers as well as the businesses from such fraudulent spending and also transactions. You should also know that the EMV supports such contact, contactless as well as the mobile transaction types. Through the contactless transaction, such cardholders will only have to tap their cards on such terminal. By the many modes of card processing, then this makes it much more secure and those customers can minimize their worries too.
You must also know that the EMV chip technology is one way for a fast and also secure mobile wallet payment allowing the customers to wave the smartphones on such terminal rather than dipping or tapping the 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 such card innovations as well as technology, Andrew Phillips Cliq has been of great help. With a lot of years in experience, he has made a successful venture. What he has done to Cliq in 2016 has really taken the company to a greater height by allowing real-time funding and accepting those micro merchant transactions. He also works with the clients when it comes to setting up the card-processing programs which were uniquely made to meet the needs of the individuals. Cliq is surely a great resource that you can go for when you need the same set up of programs for your place of work.