Is the choice of EMV standard a conscious choice? This is the question many merchants might ask in view of the approaching deadline for mandatory support of EMV cards (October 2015). Why should a business switch to EMV cards and terminals, if EMV technology does not guarantee ultimate protection against credit card fraud?

Originally, EMV technology was introduced to protect retail businesses. Even decades ago EMV cards (also called chip cards) were much harder to forge than ordinary swipe cards. At that time the problem of credit card fraud was not as serious as it is today, but even then EMV cards already had several advantages over swipe cards.

Now the advantage of EMV technology in the ordinary swipers’ world is even greater. The main benefits of EMV cards include: larger capacity, in-built interactive mini-application on a chip, addition of point-to-point encryption, and reduction of data flow.

In view of these advantages, and popularity of EMV technology, it is only natural, that EMV standard, which prevails in most European countries, should be supported by merchants in the US.

More information on the benefits of EMV cards can be found in the respective article on Paylosophy.com “The Benefits of EMV Cards“.