![]() ![]() Visa and MasterCard issued a deadline to all card acceptors to replace magnetic stripe card readers with EMV card technology by 2020 or they will face increased liability in the event of fraud. This static information includes highly sensitive data about the cardholder’s account such as credit card number, full name and expiration date. They hold information POS card readers access by the narrow magnetic stripe melted into the plastic. No personal or card information is transferred.įor nearly 50 years, magnetic stripe cards – or swipe cards – were the primary form of credit card technology in the United States. ![]() Whether you know them as smart cards or chip cards, EMV cards store their data on integrated circuits and provide a one-time code at point of sale (POS) that allows a payment to be made. EMV stands for Europay, MasterCard and Visa and is a global standard for credit cards using computer chips to authenticate and secure transactions.
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