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.
What is great about such EMV cards is that this is going to let you go for more secure transactions. A big sell in the EMV cards is that they would offer a lot better transaction security to many parties which are involved in the payment process. Such traditional magstripe cards store all the different information in just one magnetic stripe. Even if such permits an easy swipe to finish a transaction, it would mean that the information of the card gets intercepted by those skimmers and use this to make fraudulent transactions.
The EMV cards would actually store the information in such microprocessor smart chips and they get encrypted for protection of data. It is much harder to obtain data and this would mean that it is also more difficult to make fraudulent cards which need the technology to copy the micro chip as well as those encryptions in order to protect such data.
Also, the EMV cards have many options for the cardholder verification which would help in protecting the consumers and businesses from those fraudulent spending and 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. With the many modes of card processing, then this makes it more secure and customers can alleviate their worries.
Also, you have to know that the EMV chip technology is surely a way to have a fast and secure mobile wallet payment that would allow the customers to simply wave their smartphones on the terminal instead of tapping or dipping 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.
Andrew Phillips Cliq has surely helped in many ways when it comes to card innovations and technology. With a lot of years in experience, he has made a successful venture. In the year 2016, he took Cliq to the next level through accepting those micro merchant transactions and also supporting a real-time funding. He is working with the clients in creating card-processing programs that are made uniquely to meet the individuals’ needs. When you are in search for a similar set up of program in your work place then he and Cliq are your best resources.