![]() ![]() Payment cards which comply with the EMV standard are often called chip and PIN or chip and signature cards, depending on the authentication methods employed by the card issuer, such as a personal identification number (PIN) or digital signature. These include cards that must be physically inserted or "dipped" into a reader, as well as contactless cards that can be read over a short distance using near-field communication technology. ![]() EMV originally stood for " Europay, Mastercard, and Visa", the three companies that created the standard.ĮMV cards are smart cards, also called chip cards, integrated circuit cards, or IC cards which store their data on integrated circuit chips, in addition to magnetic stripes for backward compatibility. EMV is a payment method based upon a technical standard for smart payment cards and for payment terminals and automated teller machines which can accept them.
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