Learning The “Secrets” of Payments

Learning The “Secrets” of Payments

The Many Advantages that You Obtain from the EMV Chip Technology

Visa, American Express, MasterCard and all others are pressuring the US market to make a change from that magnetic stripe cards to those new cards using the EMV chip technology. The magstripe cards may have been the oldest and the standard in America for many years, such EMV technology has surely promised to change the US payment ecosystem by providing those new benefits to the customers, processors and merchants.

What is great about such EMV cards is that this is going to let you go for more secure transactions. What is the huge sell in the EMV cards is that they are going to provide several much better transaction security to several parties who are involved in processing car payments. Such traditional magstripe cards store all the different information in just one magnetic stripe. Though this would permit a simple swipe to accomplish a transaction, it means that the card’s information may be intercepted by the skimmers and then used for making fraudulent cards.

Such EMV cards would store the information in the microprocessor smart chips and they are then encrypted for data protection. It is a lot harder to get the data and such means that it is much harder to make fraud cards that would need the technology to duplicate such micro chip and the many encryptions to be able to protect the data.

Also, the EMV cards have many options for the cardholder verification which would help in protecting the consumers and businesses from those fraudulent spending and transactions. Be aware that the EMV supports the contact, contactless, including the mobile transaction types. With the use of the contactless transaction, those cardholders will simply have to tap the cards on that terminal. By the many modes of card processing, then this makes it much more secure and those customers can minimize their worries too.

You should also know that such EMV chip technology is a platform for a fast and secure mobile wallet payment that would allow the customers to wave the smartphones on the terminal instead of dipping or tapping your card. The EMV also supports mobile transactions since the mobile wallets have become popularly-used in the payment industry and with this, the merchant can provide several options to the customers.

For the card innovations and technology, Andrew Phillips Cliq has certainly helped a lot. He has really done a great venture with so many years of experience. In 2016, he actually took Cliq higher by accepting micro merchant transactions and by also supporting such real-time funding. He is working with the clients in creating card-processing programs that are made uniquely to meet the individuals’ needs. When you are in search for a similar set up of program in your work place then he and Cliq are your best resources.

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