This chip-and-PIN technology exists in the U.S., but some issuers also distribute chip-and-signature cards, too.Įven though the credit card companies no longer require signatures as an authorization step, many merchants (and consumers) still expect it. In most countries, authorizing the purchase requires a personal identification number (PIN) that only the user knows. Instead of “swiping” their plastic at the checkout counter, customers can “dip” their EMV cards into the chip reader. As such, the original card must be present when initiating in-store purchases. In recent years, the payment industry has encouraged customers and businesses to shift from magstripe technology in favor of:īoth are more secure than their legacy magstripe counterparts, but which one offers the most protection from payment fraud? A closer look at EMV credit cardsĮMV credit cards come with embedded security chips that are difficult to clone.
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