A chip technology is a modern and safe method for both retailers and the customers to exchange confidential credit and debit card account information with the safety aspect in place. Let us look into how the chip technology works.
EMV stands for Europay, MasterCard, and Visa.
If you want to use an EMV credit card, you have to scan it to complete your transaction.
No, it is difficult to duplicate an EMV chip card when compared to a card that has a magnetic strip.
Yes, EMV chip-based credit cards can take a long time to complete transactions.
As compared to a magnet strip-based credit card, the EMV chip card will not support a swipe transaction.
Not all merchants will have EMV-capable terminals so if you want to use an EMV credit card, you have to scan it to complete your transaction.
If your card has an EMV chip, and the merchant cannot support the transactions made by EMV chip, the responsibility of the counterfeit fraudulent transactions is that oof the merchant.
EMV chip cards prevent malpractices illegal transactions, skimming, and cloning of cards.
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