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Are You EMV-Ready?

If you happen to be a financial service professional, you may have heard of EMV and the October 2015 switch day. But what exactly does it mean? What should your clients and customers know about EMV? The following nuggets of facts will help you prepare for a thoughtful conversation.

EMV, short for Europay, MasterCard and Visa, is a global technical standard for smart cards. A microchip (instead of magnetic stripes) is embedded in the smart cards to store data. The chip generates a unique, one-time authentication code that cannot be used again, making duplication impossible. After numerous data theft incidents i ...

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