EMVs are chip-enabled credit cards that offer greater security (i.e. fraud prevention) than their more traditional swipe-and-sign counterparts do. Already the standard in most parts of the world, these EMV credit cards have only recently emerged in the U.S.
Europay, MasterCard and Visa (EMV) chip-enabled credit cards are becoming increasingly popular throughout the U.S. And it's not difficult to see why. They come equipped with fraud-prevention features, making them very difficult to clone.
In fact, it is because of these security features that EMV cards have already replaced traditional swipe-and-sign credit cards in most parts of the world.
In the U.S., you'll usually see EMVs marketed as either chip-and-PIN or chip-and-signature credit cards. But how are they different (and which one is more secure)?
EMV (Europay, MasterCard and Visa) credit cards have taken the retail world by storm. That is — everywhere but in the United States — a market with more than 1 billion credit and debit cards, most of which aren't equipped with EMV technology.
EMV credit cards have already become standard worldwide, with the United States being the last major market that still relies on traditional swipe-and-sign plastic.
One reason behind this slower adoption rate is the investment that merchants must make to begin accepting EMV credit card payments. You need a special terminal that can read and process chip-enabled cards. But experts predict that by 2018, EMV readers will become "ubiquitous" at point-of-sale locations across the country.
From direct deposit payroll to B2B transactions, Automated Clearing House (ACH) payments have become the preferred standard for companies and employees around the globe. Throughout its 40-year history, users have continued to embrace ACH payments for their convenience, speed and reliability.