Learning The “Secrets” of Payments

Various Good Things About the EMV Chip Technology

American Express, Visa, MasterCard as well as the others are definitely pressuring the US market to switch from the use of the magnetic stripe cards to using the new cards with 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.

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. Such traditional magstripe cards are going to store information in just 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 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.

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. Be aware that the EMV supports the contact, contactless, including the mobile transaction types. With such contactless transaction, the cardholders will just have to tap their cards on the 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. The EMV also supports mobile transactions since the mobile wallets have become popularly-used in the payment industry and with this, the merchant can provide several options to the customers.

Andrew Phillips Cliq has surely helped in many ways when it comes to card innovations and technology. With a lot of years in experience, he has made a successful venture. What he has done to Cliq in 2016 has really taken the company to a greater height by allowing real-time funding and accepting those micro merchant transactions. 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. Cliq is surely a great resource that you can go for when you need the same set up of programs for your place of work.