EMV(Europay, Master Card & Visa)
EMV stand for Europay Master Card & Visa, a global standard for
inter-operation of integrated circuit cards(IC cards or Chip cards) and
IC card capable point of sale (POS) terminals and Automated Teller
Machines(ATMs) for authenticating credit and debit card transactions.
It is joint effort between Europay, Master Card & Visa to ensure
security and global interoperability so that Visa and Master Cards can
continue to be accepted everywhere. The EMV standards define the
interaction at the physical, electrical, data and application levels
between IC Cards and IC Card Processing Devices for financial
transactions
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