What Benefits You can Get from the EMV Chip Technology
American Express, Visa, MasterCard as well as the others are definitely pressuring the US market to switch from the use of the magnetic stripe cards to using the new cards with the EMV chip technology. 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.
One benefit of the EMV cards is that this would permit more secured 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.
The EMV cards are storing the information in the microprocessor smart chips and they would then be encrypted for such data protection. 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. 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. The EMV also supports mobile transactions since the mobile wallets have become popularly-used in the payment industry and with this, the merchant can provide several options to 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. When you are in search for a similar set up of program in your work place then he and Cliq are your best resources.