The Many Advantages that You Obtain from the EMV Chip Technology
MasterCard, Visa and the American Express as well as the others are actually pressuring the US market to go for the EMV chip technology instead of maintaining the use of the magnetic stripe cards. Though such magnetic stripe cards have been the standard in America for many decades, the EMV technology has made a promise to revolutionize the US payment ecosystem by providing new benefits to the customers, merchants and also those processors.
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 are going to store information in just one magnetic stripe. Though this is going to allow just an easy swipe to do a transaction, it also means that the information of the card becomes intercepted by the skimmers and they are going to use this in making fraud transactions.
The EMV cards would actually store the information in such microprocessor smart chips and they get encrypted for protection of data. It is a lot more difficult to get the data and this means that it is harder to create fraud cards requiring the technology to duplicate the micro chip and also the encryptions in order 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. Also, you need to know that EMV would support such contactless, contact and mobile transaction types. With such contactless transaction, the cardholders will just have to tap their cards on the terminal. Through the different modes of card processing, then such would make it a lot more secure and customers may also alleviate their worries.
Also, you have to know that the EMV chip technology is surely a way to have a fast and secure mobile wallet payment that would allow the customers to simply wave their smartphones on the terminal instead of tapping or dipping the card. Because the mobile wallets are the trends in the payment industry, EMV would support for those mobile transactions allowing the merchant to invest in such one system to open many options for customers.
For the card innovations and technology, Andrew Phillips Cliq has certainly helped a lot. With a lot of years in experience, he has made a successful venture. In the year 2016, he took Cliq to the next level through accepting those micro merchant transactions and also supporting a real-time funding. He also works with the clients when it comes to setting up the card-processing programs which were uniquely made to meet the needs of the individuals. When you are in search for a similar set up of program in your work place then he and Cliq are your best resources.