EMV
EMV is a global security standard for chip cards and card terminals that was developed by Europay, Mastercard and Visa, replacing the magnetic stripe as a security feature.
EMV (Europay, Mastercard, Visa)
EMV stands for Europay, Mastercard and Visa — the three companies that originally developed the standard. Today, it is managed by EMVCo, a consortium of six card networks (Visa, Mastercard, JCB, American Express, China UnionPay, Discover).
The EMV standard defines the technical specification for the chip on credit and debit cards, as well as the communication between the chip and the terminal. Compared to the old magnetic stripe, the EMV chip offers significantly higher security: it generates a unique cryptogram value for each transaction that cannot be copied.
In Switzerland and Europe, EMV chip cards have been the standard for years. Contactless payment (NFC) is also based on the EMV specification. For merchants with a physical point of sale, an EMV-capable terminal is a prerequisite for card acceptance.
EMV examples
A customer inserts their chip card into the terminal. The EMV chip generates a unique cryptogram value for the transaction.
A merchant upgrades their terminal from magnetic stripe to EMV chip, thereby reducing the risk of card counterfeiting.
Contactless payment via NFC is based on the EMV specification — the card communicates with the terminal in encrypted form.
EMV FAQ
What is EMV?
EMV is a global security standard for chip cards and card terminals. The name stands for Europay, Mastercard, and Visa. The EMV chip on your card generates a unique code for each transaction that cannot be copied.
Why is EMV more secure than the magnetic stripe?
The magnetic stripe contains static data that can be copied (skimming). The EMV chip generates a unique cryptogram value for each transaction — even if it is intercepted, it is worthless for further transactions.
Do you as a merchant need an EMV-capable terminal?
Yes, in Switzerland and Europe, an EMV-capable terminal is standard. Without an EMV terminal, chip cards cannot be processed securely, and the merchant bears a higher liability risk.
What does EMV have to do with contactless payment?
Contactless payment via NFC is based on the EMV Contactless specification. The encrypted communication between the card and the terminal follows the EMV standard.
