EMVStandards

EMVStandards, in common parlance EMV standards, refer to a family of specifications that govern the operation of chip-based payment cards and the point-of-sale and ATM devices that accept them. Developed originally by Europay, MasterCard, and Visa, the specifications are now managed by EMVCo, a consortium of major payment brands (American Express, Discover, JCB, Mastercard, Visa). The primary aim is to enable secure, interoperable card-present payments worldwide and to reduce fraud associated with magnetic stripe cards.

The core EMV model uses embedded IC cards that support both contact and contactless interfaces. During a transaction, the card and terminal exchange data to generate a transaction-specific cryptogram and to perform application authentication. The system supports offline data authentication (SDA, DDA, and CDA) and cardholder verification methods (CVMs) such as offline PIN or signature, depending on risk and terminal capabilities.

EMVCo maintains several specification families, including the EMV Card Specifications, EMV Terminal Specifications, and EMV Contactless specifications. Updates add support for near-field communication (NFC), mobile wallets, and tokenization. The standards flow includes versioning and conformance testing; manufacturers, payment processors, and acquirers pursue EMV conformance certification to ensure compatibility across devices and networks.

Adoption across regions has driven the widespread transition from magnetic stripes to EMV, with ongoing maintenance to address evolving payment methods and security requirements. Compliance and certification processes, tooling for testing, and defined risk management procedures help sustain interoperability and reduce fraud in card-present environments.