What is EMV Chip? Why EMV Chips are Used in Debit/Credit Cards? [All Tech Explained]

What is EMV Chip? Why EMV Chips are Used in Debit/Credit Cards? [All Tech Explained]

What is EMV? EMV meaning, EMV Chip On Debit/ Credit Cards, how does EMV works, EMV Chip On ATM Card, EMV full form?

EMV Chip and EMV Chip Uses

Hello Friends, in today's article I'm going to give you some very important information. You may know that now debit or credit cards have something like a chip on it. This chip is called EMV Chip, this chip has its own advantages. So why this EMV Chip is used On Debit or Credit cards?
So friends Welcome to gtechxp, Let's start.

    Why EMV cards?

    As crime and wrong businesses are increasing fast today, we should be careful to avoid any loss. But as we all know, we make mistakes despite knowing that.

    So today I'll give you some Information related to debit and credit cards, so if you have a debit or credit card then must read this article.

    EMV Means Europay, MasterCard and Visa.

    Technology has grown a lot in today's world. As you may know that the bank has changed now and the banks are also using the technology in full swing. 

    Debit and credit cards are much more secured nowadays. But Do you know why there is an EMV chip used in Debit and credit card?

    EMV stands for Europay, MasterCard, Visa. It is the global standard for chip-based Debit and Credit Card transactions. It is a joint effort between Europay, MasterCard and Visa to ensure security everywhere.

    Work Of Small EMV chip in debit/credit cards

    Now, I'm going to tell you about the chip used in debit cards. Actually, a few years ago there is no Chip-based debit/credit card available, so if your Debit Card had Stolen then anybody could withdraw your money.

    As those Non-EMV chip debit or credit cards are not highly secured and can be easily hacked and anyone can also copy these(Non-EMV cards) cards with little bit knowledge in this field.

    The arrival of EMV Chip-Based Cards

    As the technology expanded, the changes in the debit cards have begun to counter the fraud crimes, there is more advanced technology to come with the upcoming debit cards, but for now, there is already an EMV chip-based safety feature Available for debit/credit cards.

    So Now debit or credit cards have two type of safety feature one is EMV Chip and one is a PIN, so they are called chip-pin based debit/credit cards. Which is not easy to hack.

    A copy of the debit could be easily made, but now the EMV chip has its own password in the card that comes with the card, and which changes automatically when you do any transaction.

    In simple words, your PIN was your personal password and the EMV chip has its own password which changing with your every transaction, It is a System based Password which is formed when you use your card.

    Final Words

    In this article, we have learned about the role of the EMV chip in debit and credit cards and how PIN and chip-based cards are more secure than just PIN-based cards.

    Both PIN and EMV chip-based cards are connected to each other and provide you with high security and privacy. Share this article if you like our hard work.

    FactZone: Robert Manning invented debit cards. 

    Be happy be the game changer ✌

    What is EMV Chip? Why EMV Chips are Used in Debit/Credit Cards? [All Tech Explained] What is EMV Chip? Why EMV Chips are Used in Debit/Credit Cards? [All Tech Explained] Reviewed by GtechXp on November 01, 2018 Rating: 5

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