EMV
EMV is a global standard for secure payment transactions using chip-based credit and debit cards, named after its original developers (Europay, Mastercard, and Visa). It enhances security by generating unique transaction codes for each payment, reducing fraud compared to traditional magnetic stripe cards. The technology involves both the physical chip on cards and the backend systems that process transactions.
Developers should learn EMV when working on payment processing systems, point-of-sale (POS) applications, or financial technology (fintech) projects to ensure compliance with global security standards. It's essential for implementing secure card-present transactions in retail, banking, and e-commerce environments, helping prevent card skimming and counterfeit fraud.