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May 1, 2018 // By:admin // No Comment

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. 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.

A great thing about the EMV cards is that such would allow 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. 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 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.

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. Also, you need to know that EMV would support such contactless, contact and mobile transaction types. With such contactless transaction, the cardholders will just have to tap their cards on the terminal. By the many modes of card processing, then this makes it much more secure and those customers can minimize their worries too.

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. 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 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. If you would need the same set up in your office or company, then Cliq is your most fantastic resource.

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