What Benefits You can Get from 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. 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. The big sell when it comes to the EMV cards is that they provide a much better transaction security to the different parties involved when it comes to the payment process. Such traditional magstripe cards are going to store information in just 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 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. You should also know that the EMV supports such contact, contactless as well as the mobile transaction types. Through the contactless transaction, such cardholders will only have to tap their cards on such 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 should also know that such EMV chip technology is a platform for a fast and secure mobile wallet payment that would allow the customers to wave the smartphones on the terminal instead of dipping or tapping your 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.
For such card innovations as well as technology, Andrew Phillips Cliq has been of great help. With a lot of years in experience, he has made a successful 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 works with those clients to make such card-processing programs that are really made uniquely to be able to meet the needs of those individuals. When you are in search for a similar set up of program in your work place then he and Cliq are your best resources.