EMV - Smart Card
Support of Integrated Circuit Cards (ICC), commonly referred to as smart cards, and the Europay, MasterCard, Visa (EMV) standards that govern their use is continuing to rapidly grow around the world. Smart cards are expected to supplement and eventually replace the magnetic stripe card. As of late 2010, the following map illustrates the progress of worldwide adoption of the EMV standard.
CSFi's SWITCHWARE® solution provides financial institutions with the ability to conform to the EMV standards and to perform payment processing of smart card transactions. The network diagram below depicts the important components to supporting EMV Smart Card deployment.
Highlights
Functions:
- EMV transaction processing and switching
- ATM/POS EMV transaction acquiring
- Regional EFT network EMV support
- Visa VSDC support
- MasterCard M-Chip support
Benefits:
- Improved payment transaction integrity
- Superior cardholder authentication
- Support smart card applications
- Adherence to EMV Co. mandates
- Conformance with liability shifts
Related Information
