What is EMV and why should you care?

In some respects, the notion of paying with cash or traditional credit cards may appear a little outdated. After all, the first six months of 2017 saw the level of spending through contactless cards rise significantly year-on-year and adoption is continuing to grow, which is why Cammax now offer contactless payment integration with all of our kiosk solutions.

However, the needs of every organisation differ and it’s important that when it comes to selecting the right kiosk for your business that you consider all your specific needs and requirements.

Although contactless payments are rising, there’s still some way to go before they completely replace more traditional card-based payment methods. In a bid to revitalise the use of credit cards and traditional chip and pin payments lenders are also establishing a new gold standard in security and ease-of-use. Known as EMV (or Europay, MasterCard and Visa) in short, EMV improves the efficiency of processing payments and makes it far harder for criminals to steal data.

So, if you’re considering what payment methods to incorporate into your kiosk, what else do you need to know about EMV?

How to utilize an EMV credit card

When making any purchase with EMV, insert your credit card right at the EMV enabled kiosk (you should find a slot located below the numeric keypad). There is where you dip your credit card. Just place the card into the slot. After that, follow the prompts on the screen. Leave the card there until the transaction has been successfully processed.

EMV is a much safer way to make payments

The technology included in EMV cards is extremely advanced and it has recently been developed to provide a more secure shopping experience both on and offline. These cards include a small but potent computer chip, which in the first instance creates a unique code for every single transaction.

The main point of this feature is to ensure that, if hackers were to access individual codes and attempt to use this data to complete a fraudulent purchase, the transaction would be instantly declined. Similarly, this technology makes it impossible for cyber-criminals and hackers to create counterfeit credit card information, making this singular form of identity theft a thing of the past.

 

 

 

 

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