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EMV stands for Europay, Mastercard and Visa — is a global standard for cards equipped with computer chips and the technology used to authenticate chip-card transactions. EMV cards are smart cards (also called chip cards or IC cards) that store their data on integrated circuits in addition to magnetic stripes (for backward compatibility). These include cards that must be physically inserted (or “dipped”) into a reader and contactless cards that can be read over a short distance using radio-frequency identification (RFID) technology. Payment cards that comply with the EMV standard are often called Chip and PIN or Chip and Signature cards, depending on the authentication methods employed by the card issuer.

 

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April 13, 2002 -- Samsung’s 8KB EEPROM device has already received chip technology approval from Visa International. The company’s 2KB and 4KB devices are currently undergoing Visa International EMV Certification. Rigorous testing, due to be completed in May, will evaluate basic

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