EMV payment firm? The Twist to EMV Certification. Any non-generic, custom-payment application, such as a point-of-sale system, is held to the same testing standards as a generic payment application for EMV certification. The testing falls on the developer of the payment application, but can significantly hold up businesses that need an EMV certified terminal. Wonder why so many businesses still swipe chip cards? It’s because companies are currently waiting up to one year for level 3 EMV certification. Palms sweating? Mind racing? Don’t stress. Even though EMV compliance is still a dream for most businesses, we have solutions available to you right now.
EMV cards are either inserted into the terminal slot, known as “card dipping,” or they can be contactless using near field communication (NFC) to transfer data by merely tapping the card on the terminal. Cards may also support both methods. See NFC.
What is EMV Chip Card Technology? “EMV® is a global standard for credit and debit payment cards based on chip card technology” taking its name from the card schemes Europay, MasterCard, and Visa – the original card schemes that developed it. The standard covers the processing of credit and debit card payments using a card that contains a microprocessor chip.
Set your strategic payment decisions — leverage Fairbit Research insights and proprietary data assets. Achieve exceptional results — against mission-critical priorities with independent advice and support from our payment industry and solution experts. Embrace digital payment — harness payment knowledge to fuel business growth. Read extra information at EMV Level 2 testing and certifications services.