Advanced technology means greater security

As consumers demand safer, faster, and better ways to pay for goods and services, chip cards are one way Visa is responding. Visa chip cards have an embedded microchip that is virtually impossible to copy and, in most cases, works with a customer signature. For merchants, accepting chip cards means providing customers with a payment experience that’s simple, quick, and highly secure.

Visa’s plan to accelerate the adoption of EMV chip technology in the U.S. represents an important step forward in building an infrastructure that is prepared for future advances in technology, while helping reduce fraud, supporting emerging payment technologies, and enhancing international acceptance.

An investment in the future of payments

The use of stronger authentication methods and unique transaction elements makes chip card data less attractive to steal and make counterfeit fraud a near-impossibility, providing greater security and peace of mind. Visa chip cards also have a magnetic stripe on the back to ensure acceptance at point-of-sale (POS) terminals that do not have a chip-reading device.

As Visa promotes the U.S. migration to chip cards, we encourage merchants to start thinking about the terminal upgrades they may need to support emerging payment technologies. By updating your POS system to dual-interface terminals, which accept both contact chip cards and contactless chip devices, you can start building an infrastructure that’s ready for the future and the arrival of mobile payment technologies.

How chip cards work

Rather than swiping the card and signing a receipt, the customer inserts the Visa chip card into the terminal, completes the transaction per the on-screen instructions, then removes the card when prompted.

Get ready for the shift

While the equipment upgrade isn’t yet mandatory, merchants who make the change can enjoy certain added benefits. For example, merchants that deploy terminals that support dual-interface contact and contactless chip technology may not be required to re-certify their PCI validation every year. And upgrading now can help merchants avoid the potential financial implications when liability for counterfeit POS transactions shifts in 2015.

Today, Visa is collaborating with a number of industry groups on the evolution of chip technology. Merchants can get involved and help define the future too. Get more information about the timeline for adopting dual-interface terminals in the Related Information section, or contact your acquirer for assessment of chip acceptance and help selecting suitable terminal hardware and software.

Related Information