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EMV Chip & Pin

EMV Chip & Pin

EMV micro-chipped “smartcards”, which are gradually working their way into U.S. wallets, come in two versions: chip-and-signature and chip-and-PIN. The main difference between them is how they’re authenticated at the point of sale.

All EMV transactions begin the same way at the point of sale. Instead of sliding the card through a card reader, as is done with magnetic stripe-equipped cards, the EMV card is “dipped” into the reader, which collects account data from the embedded microchip. Chip-and-PIN EMV cards, which account for about 60 percent of EMV cards worldwide, then require the cardholder to enter a four-digit personal identification number (PIN) to complete the transaction. Chip-and-signature (or chip-and-sig for short) EMV cards, on the other hand, require the cardholders signature to verify the sale.

Just as EMV cards are considered to be more secure than magnetic stripe cards, chip-and-PIN cards are a stronger defense against fraud than chip-and-sig cards because it’s more difficult for a thief to guess a card’s PIN than to forge the cardholders signature.

EdataPay offers merchants up to date technology and can provide a POS system that is EMV and Chip Pin compatible.

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