The Many Advantages that You Obtain from 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. Though the magstripe cards have actually been the standard in America for several decades, the EMV technology has promised to revolutionize the US payment ecosystem through offering new benefits to the merchants, customers as well as the processors.
One benefit of the EMV cards is that this would permit more secured 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. Those tradition magstripe cards would store different information in only 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 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.
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. You should also know that the EMV supports such contact, contactless as well as the mobile transaction types. With the use of the contactless transaction, those cardholders will simply have to tap the cards on that terminal. Through the different modes of card processing, then such would make it a lot more secure and customers may also alleviate their worries.
You should also know that such EMV chip technology is a platform for a fast and secure mobile wallet payment that would allow the customers to wave the smartphones on the terminal instead of dipping or tapping your card. Because the mobile wallets are the trends in the payment industry, EMV would support for those mobile transactions allowing the merchant to invest in such one system to open many options for customers.
Andrew Phillips Cliq has surely helped in many ways when it comes to card innovations and technology. With so many years of experience under his belt, Andrew Phillips made a new venture. In 2016, he actually took Cliq higher by accepting micro merchant transactions and by also supporting such real-time funding. 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. If you would need the same set up in your office or company, then Cliq is your most fantastic resource.