EMV® Chip Card and Terminal at the POS
The EMV chip card (smart card) is the new standard for payment cards in the United States. It is readily identifiable by the gold square on its front. Each smart card’s embedded microprocessor (microchip) offers capabilities not available on magnetic stripe cards. The chip securely stores account information, offers enhanced cardholder verification and performs cryptographic processing that keeps the data safe from fraudsters and identity thieves.
Chip card issuers determine whether a PIN or signature is required at the point of sale (POS).
EMV-compatible terminals handle both Chip-and-PIN and Chip-and-Signature transactions as follows:
While EMV-compatible terminals can process cards that are not chip-enabled through a magnetic stripe reader, magnetic stripe terminals cannot process chip cards. We encourage our merchant clients to upgrade their POS equipment to the EMV standard to benefit from its security features and to help ensure that they can process whatever cards their customers choose and not miss a sale.
As an added bonus, EMV-capable terminals can also accept contactless payments using Near Field Communication (NFC) including digital wallets such as Apple Pay®, Google Wallet™ and Samsung Pay® — payment convenience that’s good for both your business and your customers.
EMV is a registered trademark or trademark of EMVCO LLC in the United States and other countries. www.emvco.com. Apple Pay is a trademark of Apple Inc. Google Wallet is trademark of Google Inc. Samsung Pay is a trademark of Samsung Electronics Co., Ltd.