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With stories of credit card numbers being stolen and the threat of identity theft high, EMV (Europay, Mastercard, Visa) technology is being developed as an alternative to the magnetic striped cards currently used in the United States.
With EMV technology, a chip is used to verify the identity of the customer rather than a magnetic stripe. In addition, dynamic data is developed that’s unique to each transaction. There’s a shift toward EMV adoption happening in the United States, with 1.1 billion EMV cards expected to be issued by 2015.
In this infographic by Leap Payments, learn more about the transition and how it affects your business.
