The Many Advantages that You Obtain from the EMV Chip Technology
MasterCard, Visa and the American Express as well as the others are actually pressuring the US market to go for the EMV chip technology instead of maintaining the use of the magnetic stripe cards. 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.
One benefit of the EMV cards is that this would permit more secured 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 store all the different 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.
Also, the EMV cards have many options for the cardholder verification which would help in protecting the consumers and businesses from those fraudulent spending and transactions. Also, you need to know that EMV would support such contactless, contact and mobile transaction types. With such contactless transaction, the cardholders will just have to tap their cards on the terminal. With the many modes of card processing, then this makes it more secure and customers can 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.
For such card innovations as well as technology, Andrew Phillips Cliq has been of great help. 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. If you would need the same set up in your office or company, then Cliq is your most fantastic resource.