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Articles tagged: emv

What is a mobile wallet?

A mobile wallet is an application that a customer uses to store their payment card details on a mobile device. Examples of mobile wallets include the following: Google Pay Apple Pay Samsung Pay The customer can then use their mobile device to make contactless payments by tapping their device on your payment terminal. Read more

What is a contactless payment?

A contactless payment is a secure way for a customer to pay for goods and services by tapping their compatible card or mobile device on your payment terminal. The customer doesn’t need to insert or swipe their card and they don’t need to enter their PIN. Read more

Who is liable for fraudulent EMV transactions?

Who is liable for fraudulent EMV transactions depends on the type of card the cardholder uses to pay and the type of terminal you use to accept payments. The following table describes who is liable for fraudulent transactions: Type of card Type of terminal Party liable for fraudulent transactions Magnetic stripe only Magnetic stripe only Card issuer Magnetic stripe only EMV compliant Card issuer EMV Magnetic stripe only Your business EMV EMV compliant Card issuer Important: If your terminal is EMV compliant and you swipe the magnetic stripe of a working EMV card or manually enter the details of a working EMV card, you are liable if the transaction is fraudulent. Read more

How does EMV help to prevent fraud?

During an EMV transaction the chip on the card creates a unique code that the card issuer authenticates before they approve or decline the transaction. This makes it difficult for fraudsters to copy and use the card’s data because the unique code won’t work for another transaction. Read more

What is EMV?

EMV is a type of technology for credit and debit cards that helps prevent fraudulent transactions. EMV terminals work by reading a chip on the credit or debit card, which is harder for fraudsters to copy compared to a credit or debit card’s magnetic stripe. Read more