EMVchipistä

EMV chip, also known as Europay, Mastercard, and Visa chip, refers to a global standard for chip-based payment card security. This technology replaced magnetic stripe technology as the primary security feature for credit and debit cards. The EMV chip is a small, embedded microchip that stores payment card information more securely than a magnetic stripe. When a transaction occurs, the chip generates a unique, one-time transaction code, making it extremely difficult for fraudsters to replicate card data. This significantly reduces the risk of counterfeit card fraud.

The EMV chip technology is a collaborative effort by Europay, Mastercard, and Visa. Its implementation has been a global initiative aimed at enhancing payment security and reducing fraud losses. In many regions, including the United States, the adoption of EMV chip technology has been a phased process. Merchants are required to upgrade their point-of-sale (POS) terminals to accept chip-enabled cards. This transition is also often referred to as "chip and PIN" or "chip and signature" depending on the authentication method used during a transaction. The chip provides a more secure way to process payments compared to the older magnetic stripe technology, which was more susceptible to data skimming.