EMV
EMV (Europay, Mastercard, and Visa) is a global standard for secure payment transactions using chip-enabled cards and terminals. It enhances security by generating unique transaction codes for each purchase, reducing fraud compared to magnetic stripe cards. The technology supports both chip-and-PIN (requiring a personal identification number) and chip-and-signature authentication methods.
Developers should learn about EMV when working on payment systems, point-of-sale (POS) applications, or financial technology (fintech) projects to ensure compliance with security standards and reduce fraud risks. It is essential for implementing secure card-present transactions in retail, banking, or e-commerce platforms, especially in regions where chip cards are mandated.