EMV Chip Technology

Why are EMV cards more secure than traditional cards?
The magnetic stripes on traditional credit and debit cards store contain unchanging data. Whoever accesses that data gains the sensitive card and cardholder information necessary to make purchases. That makes traditional cards prime targets for counterfeiters, who convert stolen card data to cash.
If someone copies a mag stripe, they can easily replicate that data over and over again because it doesn't change, Unlike magnetic-stripe cards, every time an EMV card is used for payment, the card chip creates a unique transaction code that cannot be used again.


Why should I invest in chip card acceptance now?
Chip cards make it difficult for fraud organizations to target cardholders and businesses alike , MasterCard, Discover and American Express have announced upcoming liability shifts for credit card transactions based on this standard. Any merchants or issuers who do not support chip technology may be liable for the cost of counterfeit fraud. The term “Liability Shift" refers to the change in who bears the chargeback related cost of fraudulent transactions.
Following an Oct. 1, 2015, deadline created by major U.S. credit card issuers MasterCard, Visa, Discover and American Express, card-present fraud liability will shift to whoever is the least EMV-compliant party in a fraudulent transaction.


Am I required to support EMV? 
         No, you are not required to support EMV in the U.S. region at this time. However, one item that you need to consider is that even if your organization hasn't been targeted by high levels of card present fraud in the past, you may be putting yourself at risk in the future, as fraud will migrate to the weakest technology (magnetic stripe) Therefore, you may want to ensure that all your terminals are chip capable and that your payment processing application can support chip card acceptance.