Introduction

EMV is the name of the standards governing Integrated Circuit Card (ICC) transaction processing developed by Euro Pay, MasterCard and Visa in 1993. A Limited Liability Corporation jointly owned by its six member organizations — American Express, Discover, JCB, MasterCard, Union Pay, and Visa — EMVCo maintains the EMV specifications to ensure global interoperability and acceptance of chip cards. The EMV specification requires changes that impact typical transaction processing flows done in the United States (U.S.) today. This guide is intended to provide an introduction to some of these EMV changes and how it impacts applications directly integrated with the Elavon Fusebox transaction processing gateway.

Card Transaction Fraud

EMV is a specification primarily designed to prevent counterfeit cards and card skimming through use of dynamic data and cryptography. The cryptogram that is generated provides the dynamic data used to validate that the transaction is unchanged and that it originated from a genuine card. It also has mechanisms to protect against man-in-the-middle attacks, lost / stolen cards and delinquent cardholders.