12/17/2022 0 Comments Cleaning emv card readersThat’s good news for anyone who runs a brick and mortar storefront - EMV protects you against some kinds of chargebacks by preventing fraudulent transactions from being possible in the first place. A skimmer is just a piece of hardware installed over a magstripe terminal that copies the card data when a card is swiped - the scammer installs the skimmer on a terminal and then retrieves it later to harvest the card data, presumably to sell to someone else who will try to use it to make expensive purchases online, or clone a card for themselves.ĮMV chip cards help reduce card-present card fraud, which has been rampant in the US for a while now. EMV prevents cloning, and because the verification process is dynamic (it generates a unique code each time the card is used, whereas magstripe transactions use a static code), it also helps prevent theft of the card using a skimmer. Magstripe cards are relatively easy to “clone” - that is, to copy a stolen card number onto a blank card to be used at a brick and mortar store. I’m going to get a little bit technical here, so please bear with me. These computer chips can store and process much more data than the magnetic stripes on cards, which makes them much harder to counterfeit. EMV has been the dominant technology in Europe and Canada for decades, but most of the world has switched over to EMV.ĮMV uses a computer chip to perform complex, dynamic verification that the card is genuine. It’s actually the name for a set of security standards used for credit card processing. So we’ve talked about how EMV cards require you to “dip” the chip (a phrase that always reminds me of endless chips and salsa at my favorite Mexican restaurant.) But why? What makes EMV more complicated than standard magnetic stripe (magstripe) transactions?ĮMV simply stands for EuroPay, Mastercard, and Visa, the organizations that pioneered the technology.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |