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I’m going to get a little bit technical here, so please bear with me. These computer chips can store and process much more data than the magnetic stripes on cards, which makes them much harder to counterfeit. EMV has been the dominant technology in Europe and Canada for decades, but most of the world has switched over to EMV.ĮMV uses a computer chip to perform complex, dynamic verification that the card is genuine. It’s actually the name for a set of security standards used for credit card processing. So we’ve talked about how EMV cards require you to “dip” the chip (a phrase that always reminds me of endless chips and salsa at my favorite Mexican restaurant.) But why? What makes EMV more complicated than standard magnetic stripe (magstripe) transactions?ĮMV simply stands for EuroPay, Mastercard, and Visa, the organizations that pioneered the technology. The EMV Liability Shift & Your Business.Credit Card Processing Fees Infographic.BigCommerce VS Shopify Comparison: Which Is Better For Your Business?.Advanced Guide to Growing Your Online Store.Beginner's Guide to Starting an Online Store.The Best Invoice Software For Small Businesses.Everything You Need To Know About Small Business Payroll.Xero VS Sage VS QuickBooks: Which Is Better?.Using Personal Credit Cards for Business.Dos And Don'ts Of Business Credit Cards.The Complete Guide To Understanding A POS System’s Offline Mode & Credit Card Processing.
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