Marketing
Mandatory EMV
for Your Dojo
(What the Heck is EMV and Why Do We Need It?)
By Melodee Meyer
What is it?
To put it simply, EMV (named after its
founders Europay, MasterCard, Visa) is a
new security standard for credit and debit
cards. Often called EMV cards, they contain
a smart chip rather instead of a magnetic
strip. They’re used worldwide and quickly
gaining traction in the US. Pretty soon EMV
cards (which will be issued by the bank) along
with the terminals you swipe them at (to be
purchased by merchants) will be mandatory.
Why do we need it?
have gotten those awful calls from the bank
saying our card has been compromised?
Magnetic stripe cards are easily duplicated
and fraud is continuously on the rise. Counties
that have already adopted the use of EMV
have seen a decline in fraud because these
cards are virtually impossible to clone. They’re
extremely secure and contain cryptographic
keys that create unique codes for every
transaction. This means that even if your card
number gets stolen, it can’t be used at an
EMV terminal without the chip to generate
that code.
The main reason we need this thing is because Another reason EMV is great is because it’s
going to make going abroad that much easier.
it’s going to reduce fraud. How many of us
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Dojo Nation • March 2015