What Benefits You can Get 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. The magstripe cards may have been the oldest and the standard in America for many years, such EMV technology has surely promised to change the US payment ecosystem by providing those new benefits to the customers, processors and merchants.
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. Those tradition magstripe cards would store different information in only one magnetic stripe. Though this is going to allow just an easy swipe to do a transaction, it also means that the information of the card becomes intercepted by the skimmers and they are going to use this in making fraud 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 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. 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 must also know that the EMV chip technology is one way for a fast and also secure mobile wallet payment allowing the customers to wave the smartphones on such terminal rather than dipping or tapping the card. Since the mobile wallets are among the other trends in the payment industry, such EMV support for the mobile transactions would permit the merchant to invest in that single system in order to open various options for the customers.
Andrew Phillips Cliq has surely helped in many ways when it comes to card innovations and technology. He has really done a great venture with so many years of experience. 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.