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The Many Advantages that You Obtain from the EMV Chip Technology

MasterCard, Visa and the American Express as well as the others are actually pressuring the US market to go for the EMV chip technology instead of maintaining the use of the magnetic stripe cards. Though such magnetic stripe cards have been the standard in America for many decades, the EMV technology has made a promise to revolutionize the US payment ecosystem by providing new benefits to the customers, merchants and also those processors.

A great thing about the EMV cards is that such would allow more secure transactions. A big sell in the EMV cards is that they would offer a lot better transaction security to many parties which are involved in the payment process. Such traditional magstripe cards are going to store information in just one magnetic stripe. Even if such permits an easy swipe to finish a transaction, it would mean that the information of the card gets intercepted by those skimmers and use this to make fraudulent transactions.

Such EMV cards would store the information in the microprocessor smart chips and they are then encrypted for data protection. It is a lot more difficult to get the data and this means that it is harder to create fraud cards requiring the technology to duplicate the micro chip and also the encryptions in order to protect the data.

Also, the EMV cards have many options for the cardholder verification which would help in protecting the consumers and businesses from those fraudulent spending and transactions. You should also know that the EMV supports such contact, contactless as well as the mobile transaction types. With such contactless transaction, the cardholders will just have to tap their cards on the terminal. With the many modes of card processing, then this makes it more secure and customers can alleviate their worries.

Also, you have to know that the EMV chip technology is surely a way to have a fast and secure mobile wallet payment that would allow the customers to simply wave their smartphones on the terminal instead of tapping or dipping the card. Since the mobile wallets are among the other trends in the payment industry, such EMV support for the mobile transactions would permit the merchant to invest in that single system in order to open various options for the customers.

For such card innovations as well as technology, Andrew Phillips Cliq has been of great help. He has really done a great venture with so many years of experience. In 2016, he actually took Cliq higher by accepting micro merchant transactions and by also supporting such real-time funding. He also works with the clients when it comes to setting up the card-processing programs which were uniquely made to meet the needs of the individuals. If you would need the same set up in your office or company, then Cliq is your most fantastic resource.

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