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A Guide to EMV Chip Technology

EMVCo, LLC A Guide to EMV Chip Technology Version November 2014 - 1 - Copyright 2014 EMVCo, LLC. All rights reserved. A Guide to EMV Chip Technology Version November 2014 EMVCo, LLC A Guide to EMV Chip Technology Version November 2014 - 2 - Copyright 2014 EMVCo, LLC. All rights reserved. Table of Contents TABLE OF CONTENTS .. 2 LIST OF FIGURES .. 3 1 INTRODUCTION .. 4 Purpose .. 4 References .. 4 2 BACKGROUND .. 5 What are the EMV Chip Specifications? .. 5 Why EMV Chip Technology ? .. 6 3 THE HISTORY OF THE EMV CHIP SPECIFICATIONS .. 8 Timeline .. 8 The Need for a Global Chip Card Standard .. 8 The Evolution of the EMV Chip Specifications .. 9 Common Core Definitions .. 9 Extending EMV Chip Technology to Contactless and Mobile .. 10 EMV Chip around the World .. 11 4 EMVCO 13 EMVCo Mission .. 13 Structure of EMVCo Management and Operations .. 14 The Role of the Payment Systems in Contrast to EMVCo.

microprocessor chip cards embedded in plastic bank cards in 1984. By 1994, all French bank cards carried a chip using a French developed specification for chip card credit and debit payment known as B0′. Through issuing chip cards with PINs, the French banks were able to dramatically reduce fraud due to counterfeit and lost and stolen cards.

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