Secure Payment Transactions
CategoryRetail Standards
EMV is a series of standards managed by EMVCo, a consortium of financial companies, to facilitate worldwide interoperability and acceptance of secure payment transactions using smart cards (a.k.a. chip-and-pin technologies) and their contactless protocol extensions.
Secure Commerce Technologies
Smart Card and Payment Terminal Interoperability
EMV standards have been developed by the representatives of the six member payment systems and supported by dozens of issuing banks, merchants, paymenet processors, vendors and other industry stakeholders participating as EMVCo associates.
EMV is a technology toolbox that enables globally interoperable, chip-based payments across face-to-face and remote environments, to improve security against fraud linked to magnetic stripe card transactions. It includes the following standards:
- EMV 4.3 — the original specification for chip-based payment instruments.
- EMV Next Generation 1.0 — common technology platform for multiple interfaces.
- EMV Contactless 2.8 — contactless payments compatible with existing systems.
- EMV Contactless Mobile 1.0 — contactless applications on a Secure Element (SE).
- EMV Payment Tokenisation 2.1 — a framework for tokenising card numbers.
- EMV 3-D Secure 2.2 — 3-Domain model protocol and secure infrastructure.
- EMV QR Code 1.0 — QR Code payment processing by mobile applications.
