![]() ![]() ![]() However, this is an oversimplification of the EMV standard, which also encompasses other transaction modes such as "Chip & Signature," where customers enter a card into a terminal and then sign instead of adding a PIN, as well as " Tap & Pay," where customers tap a chip card or phone against the terminal to pay. Interac Debit, which applies to Canadian merchants only, also changed over to the EMV standard in 2010.ĮMV is often referred to as Chip & Pin because the most common way to use an EMV-enabled card is to insert the chip and then enter your personal PIN code. EMV stands for EuroPay Mastercard Visa, after the three original companies that developed the standard.ĮMV was introduced in Europe in 2006, in Canada in 2010, and in the US in 2015. ![]()
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