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EMV Co

 

EMV Co, short for Europay, Mastercard, and Visa Company, is a global organization that manages and advances secure payment card transaction standards. Established by major card networks, EMV Co is responsible for developing and maintaining the EMV specifications, which outline the technical standards for chip-based payment cards and devices. The EMV name originally referred to the collaboration between Europay, Mastercard, and Visa but has since evolved into a global standard embraced by various payment networks such as JCB, American Express, China UnionPay, and Discover.

The primary goal of EMV technology is to enhance the security of payment transactions by replacing traditional magnetic stripe cards with chip-enabled cards. These chips generate unique transaction codes for each purchase, making it significantly more challenging for fraudsters to duplicate card information. EMV Co continuously updates its specifications to address emerging security threats and promote interoperability across the payment industry, ensuring a more secure and standardized global payment landscape.

 

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