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Aug 21
2012

What Differentiates EMV Cards?

Posted by Robert Siciliano in EMV

Robert Siciliano

In the United States, our credit and debit cards still rely on outdated magnetic stripe technology. The magnetic stripe is the black or brown band on the back of your credit or debit card. The stripe stores data, such as your account number, via tiny, iron-based magnetic particles. When you swipe your card through a card reader, the device accesses the data stored on the magnetic stripe. A quick YouTube search yields numerous vendors offering to sell skimming devices, which can be used to steal data from credit cards as they are swiped in an ATM.

Aug 21
2012

Banks Should Promote EMV

Posted by Robert Siciliano in EMV

Robert Siciliano

The old magnetic stripe technology currently used in credit and debit cards in the United States is inexpensive and readily available, making our cards highly vulnerable to fraud. It’s understandable then that credit and debit card fraud is Americans’ primary fear, with 68% of those surveyed describing themselves as extremely or very concerned about the security of their credit or debit card data and 66% as extremely or very concerned about identity theft.

Aug 09
2012

5 Things To Know About Contactless Payment

Posted by Robert Siciliano in EMV

Robert Siciliano

Contactless payment, also known as NFC or near field communication, is a technology that allows electronic devices to communicate wirelessly. In the case of a mobile wallet application, those devices would typically be a mobile phone and a point of sale terminal at a checkout counter. (NFC has other uses beyond credit card transactions: it can integrate with hardware—to unlock a door, for example—or it can activate software.)

Aug 07
2012

Travel Smart With EMV Technology

Posted by Robert Siciliano in EMV

Robert Siciliano

Frequent fliers accustomed to traveling internationally for business are helping drive demand for EMV cards within the United States. Business travelers who have found it increasingly difficult to use their magnetic stripe cards while abroad are now requesting that American banks provide EMV, or chip and PIN cards, which are used more commonly in Europe and around the world.

Jul 19
2012

Security Snapshot: How Is EMV Safer?

Posted by Robert Siciliano in EMV

Robert Siciliano

To understand why EMV credit cards—or “chip and PIN” cards—are safer, first we must understand standard magnetic stripe cards. The familiar magnetic stripe, which can be seen on all credit cards carried in the United States, has been around for more than four decades.

Jul 06
2012

How EMV Impacts International Travel

Posted by Robert Siciliano in EMV

Robert Siciliano

In the United States, credit and debit cards rely on magnetic stripe technology. The magnetic stripe is the black, brown, gold, or silver band on the back of your credit or debit card. Tiny, iron-based magnetic particles in this band store your account number. When the card is swiped through a “reader,” the data stored on the magnetic stripe is accessed. Card readers and magnetic stripe technology are inexpensive,  readily available and  vulnerable to fraud.

Jan 24
2012

Which Will Make a Bigger Splash in 2012, Mobile Wallet or EMV?

Posted by Robert Siciliano in Mobile Wallet , Mobile payment , Mobile Banking , EMV , 2012

Robert Siciliano

During the latter half of the past decade, a heated battle has been fought around the world to determine which payment method will take center stage in the coming years. Many believe mobile payment will leapfrog what is known as EMV, which stands for Euro MC/Visa, or chip and PIN credit card technology, and that soon enough chip and PIN technology will go the way of the magnetic striped credit card.


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