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Ensuring merchants and their customers are safe

EMV

EMV is the new buzz word in the credit card industry today. So, what is EMV and why is it so important? EMV is a Global standard used for chip-based debit / credit card transactions. This helps in authenticating cards and cardholders. It makes the credit card virtually impossible to copy, thus reducing the possibility of accepting counterfeit cards.

PCI Compliance

PCI compliance is security standard – Payment Card Industry Data Security Standards, or PCI DSS, which are administered by the Payment Card Industry Security Standards Council (PCI SSC). The council includes all major card brands — including Visa, MasterCard, Discover and American Express — to manage security standards for electronic transactions.

It is important and a requirement to be PCI compliant for all businesses that accept credit/debit cards, merchant services providers, financial institutions and card issuers—to keep the process safe by achieving and maintaining PCI compliance.

NFC – Near Field Communication

NFC is short-range wireless technology that allows smartphones, POS terminals and similar devices to communicate when they are within a few inches of each other. This contactless technology has been around for years and has many applications that people use daily, including syncing their smartphones to their cars and paying fares on public transportation.

NFC is also used for mobile contactless payments at both attended point-of-sale (POS) locations like stores, and unattended locations like vending machines, that use the existing merchant payments infrastructure.