Smartchip technology, or EMV, offers businesses and consumers a much higher level of security when it comes to the prevention of card skimming and other types of credit card processing fraud. EMV cards contain built-in security chips that utilize a form of cryptography to authenticate the card and the data stored on the card. EMV technology’s advanced ability to verify a card’s authenticity, combined with a PIN, has resulted in significantly less fraud for businesses and cardholders.
Businesses not using EMV compatible credit card machines face greater liabilities for credit card fraud.
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