When data is exposed, it puts your customers and your reputation as a business at serious risk. EMV chip technology combined with PCI Security Standards offer a powerful combination for increasing card data security and reducing fraud.
What they are: Fraud protection and data security
EMV chip -- Technology that uses secret cryptographic keys to help protect against fraud at the point of sale and make payment cards more difficult to counterfeit.
PCI Security Standards -- Security controls for making sure that customer's card data is kept secure throughout the entire transaction process.
How they're different: Authentication technology vs. data security controls
EMV chip -- Authentication technology for the point of sale part of the transaction when the physical card is actually present. When this chip is embedded on a card, it helps ensure the card being used is real and that it belongs to the person using it. It drastically reduces the chances of your business accepting lost, stolen or counterfeit cards.
PCI Security Standards -- Security controls to protect the cardholder's confidential information on payment cards, not just at the moment the card is swiped or dipped, but all the way through the transaction process. They also apply when payments are made online or via telephone, where the card is not present, to make sure your customers' card data is kept safe.
How they work together: A layered approach for securing multi-channel transactions
EMV chip provides an additional level of authentication at the point of sale that increases the security of a payment transaction and reduces chances of fraud. Once the card is entered into the merchant's system, the cardholder's confidential information is transmitted and stored on their network in a clear, easily accessible form, meaning it's vulnerable for attack and use for fraud by criminals in online and other channels.
Which is where PCI Standards come in. On top of EMV chip at the POS, they offer protections for the POS device* itself and provide layers of additional security controls** for businesses to use throughout the transaction process and across payment channels to keep card data safe - such as patching systems, monitoring for intrusions, using firewalls, managing access, developing secure software, educating employees, and having clear processes for the handling of sensitive payment card data.
When used together, EMV chip and PCI Standards are a powerful combination to increase security and reduce fraud. Protect your customers' data and your business today.
Visit www.emvco.com and www.pcisecuritystandards.org to learn more.