Solutions

EMV Solutions


Over the next few years many financial card issuers will be transitioning to EMV “chip” cards – in fact, the process is well underway. LEADS can help issuers who are considering or planning this transition to appreciate some of the new skills, processes, equipment and software that will be needed to launch and maintain a successful and profitable EMV smart card program.

EMV Solutions

EMV: Migration is inevitable

Over the next few years many financial card issuers will be transitioning to EMV “chip” cards – in fact, the process is well underway. LEADS can help issuers who are considering or planning this transition to appreciate some of the new skills, processes, equipment and software that will be needed to launch and maintain a successful and profitable EMV smart card program.Magnetic stripe cards are easy to duplicate and well-known techniques exist for thieves to skim credit card details and PIN numbers to create fake cards. The problem with skimming is that it is so easy to do and so hard to stop. Credit card skimming is now a major financial crime around the world.

EMV - EMV, a specification defined by Europay, MasterCard and VISA, has become the de facto standard for payment transactions in many regions including Europe, Asia and South America. Up until June 2005, more than 329 million EMV cards and 3.9 million EMV terminals had been deployed worldwide and these numbers are expected to grow at around 50% per year. Migration to chip and PIN (EMV) from magnetic stripe cards is a complex process with many new and unfamiliar areas to be managed. Consequently, without expert support, migration projects can be risky, expensive and late. In this context, Banks intend to move to emv platform with their different VISA and Mastercard products. LEADS is proud to offer them being a Gold Partner of Entrust Datacard since 1996.