Standards exist, based on ISO/IEC 7816, for contact cards, and based on ISO/IEC 14443 for contactless cards ( Mastercard Contactless, Visa PayWave, American Express ExpressPay). Payment cards which comply with the EMV standard are often called chip and PIN or chip and signature cards, depending on the authentication methods employed by the card issuer, such as a personal identification number (PIN) or electronic signature. These include cards that must be physically inserted or 'dipped' into a reader, as well as contactless cards that can be read over a short distance using near-field communication technology. ĮMV cards are smart cards, also called chip cards, integrated circuit cards, or IC cards, which store their data on integrated circuit chips, in addition to magnetic stripes for backward compatibility. EMV stands for ' Europay, Mastercard, and Visa', the three companies that created the standard. For other uses, see EMV (disambiguation).ĮMV is a payment method based on a technical standard for smart payment cards and for payment terminals and automated teller machines which can accept them.
