Understanding the Security Behind Chip Transactions

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Understanding the Security Behind Chip Transactions

12/15/2014
One of the important security processes used in chip card transactions is online authentication. With online authentication, dynamic cryptograms are generated for every chip transaction to validate that the chip and the issuer in the transaction are genuine. The main driver of the U.S. migration to chip payments is fraud reduction, so many stakeholders have requested more clear information on how this security process works.
 
Increased security and reduction of in-person counterfeit card fraud are major drivers for the ongoing migration to EMV chip payments in the U.S. However, the advanced security processes going on behind the scenes of a chip transaction may be confusing for stakeholders new to the technology. This video will help those new to EMV (and those who aren't) understand the security behind chip transactions.

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