The ABCs of EMV – Part 2

An Essential Part Of A Larger Security Strategy

This is the second in 3-part a series about EMV technology and how it helps keep sensitive data away from cyber-thieves.

Thieves can steal payment card information and use those stolen accounts for fraudulent transactions in many ways. EMV technology does not protect against all the ways fraud can happen, but it plays a key role in an overall security strategy that does provide a high level of protection.

The best fraud protection provides three layers of security:

  • Encryption Protects Transmitted Account Information. Encryption substitutes account information for randomized numbers that have no meaning. Only the entity that is supposed to receive this information, such as a bank, will have a key to decode it. If encrypted information is stolen during transmission, it will mean nothing to the thief.
  • Tokenization Protects Stored Account Information. Tokenization replaces sensitive account information with a meaningless token. A token works only in a tokenization system that uses the token to identify the original account information. If a thief steals a token from a database of stored account information, it will be of no use to him or her.
  • EMV Technology Prevents Stolen Account Information from Being Used to Counterfeit Payment Cards. If for some reason encryption or tokenization fails to prevent the theft of account information, EMV cards render stolen information useless for creating counterfeit EMV cards. It’s worth noting the most common reason for the theft of account information is failure to use encryption or tokenization.

The combination of encryption, tokenization, and EMV technology provides a highly secure environment for card payments, but will it really work? Does EMV technology help reduce fraud?

Check out the infographic to learn more about the essential role EMV plays in the reduction of payment card fraud.

Infographic: The ABC's of EMV

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