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How We See It

Leslie Paull

Leslie Paull

May 12, 2015

EMV and Merchant Card Services

EMV is the global standard for embedded-chip technology used to authenticate credit and debit card transactions with improved data security. Launched by EuroPay, MasterCard® and Visa® (EMV) and adopted by all major card brands, chip technology is currently in use or is being implemented in more than 80 countries. The U.S. began its migration in 2011. Implementing the mandatory adoption is designed to ensure that chip payment cards can continue to be accepted everywhere — to work with EMV-compatible point-of-sale terminals and ATMs from country to country. EMV is the best existing technology in use today to authenticate cards and cardholders; thus, ensuring that it is not a counterfeit or “cloned” card. Data on the transaction, generated by the chip, authenticates the card to the issuer. EMV transactions may also include a PIN, even for credit cards, which authenticates the cardholder to help prevent fraud through lost or stolen cards.

Why are EMV transactions considered to be more secure?

EMV-enabled cards (a.k.a. chip cards or smart cards) have an embedded secure microprocessor chip that stores cardholder data and creates a unique value to make each processing transaction unique.

What do merchants need to know about compliance?

The major credit card brands all set multi-year deadlines in 2011 for credit card processors and the retailers they serve to transition to EMV. Currently, banks are responsible for any credit card fraud that may occur; but a point-of-sale (POS) counterfeit liability shift is set to occur in October 2015. At that time, merchants (excluding fuel dispensers) who have not upgraded their POS credit card processing equipment to support EMV transactions (electronic payments made with chip-based cards) will be responsible if a counterfeit or fraudulent transaction should (TransFirst, 2014) occur on a chip-enabled card.

Where can I learn more about credit card processing and EMV technology?

Visit our website, or contact TB&T Merchant Services at or by calling 903-237-1858.


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