Simple, flexible, and secure payment
Banking is changing – and EMV is improving security
New technology is making payment simpler and more versatile than ever. However, there are also new hurdles to overcome in the digital world: Criminals are organizing themselves in highly professional gangs and causing increasing amounts of damage for banks. The traditional business models are also coming under pressure – companies from different sectors are offering attractive services based on new technology and are making sure that there is competition. The EMV security standard provides a way for banks to address these challenges with success.
One standard. Worldwide.
EMV is a security standard which defines the properties of chip-based payment systems. Europay, MasterCard, and Visa published the standard together in 1996. The abbreviation stands for these company names. The standard is published and kept up to date by EMVCo. EMVCo consists of Amex, JCB, Discover, China UnionPay, MasterCard, and Visa.
EMV technology is also available in various other form factors apart from smart cards: stickers, key chains, or secure elements in mobile phones. This means that banks have numerous options available for offering their customers secure, reliable payment methods and for implementing a real omni-channel strategy. EMV is now in widespread use virtually everywhere in the world. Magnetic strip cards only continue to dominate in Asia and the US. However, even here the introduction of EMV is in full swing.
Liability shift – who pays in the event of fraud?
The shift in liability is an important argument for EMV – since October 1, 2015, banks only have to pay for losses caused by card fraud if the retailer uses EMV systems. If the retailer does not use the latest technology, it is liable. On the whole, the classic patterns of fraud can be seen to be on the decline in countries that have already introduced EMV. One example of this is the copying of cards with magnetic strips using simple readers, otherwise known as skimming. Encryption and dynamic authentication mean that fraudsters have run out of luck with EMV cards. This is a significant win for banks, their customers, and for retailers.
Dual-interface cards from feature various applications for payments in retail and public transport in greater Hong Kong.
G&D provides EMV cards and personalization services to Maybank, Malaysia’s largest bank and financial services group.
India, South Indian Bank
G&D realized a solution consisting of various components for EMV migration.
The new design of Consorsbank had to be transferred to debit and credit cards. With special card bodies provided by G&D Consorsbank starts to issue first credit cards with blue and debit cards with black edges.
India, Axis Bank
G&D supplies EMV chip cards, personalization services for both EMV & magstripe Debit card , Image card printing & project management.
Germany, UniCredit Group
G&D is main supplier of electronic payment system solutions in UniCredit’s largest markets and provides the newest generation of EMV cards, including dual-interface cards and personalization services for Germany.