Hello World,

Mostly People Asking me What is EMV Chip and why our banks in Pakistan migrating to EMV Card Technology instead of using Magnetic Strip Debit Card and credit cards. As part of its security measures for transaction where you swipe your card while using HBL Debit or Credit Card SBP announced Global Standard EMV Chip & PIN

What is EMV?

EMV basically is technology with latest global standard for card payments it is an acronym for Europay and Mastercard & Visa, who developed this technology. EMV cards are based on Chip and their payments being made on Chips technology not an Magnetic strip it enhanced safety features that are desgined to prevent fraudulent practice such as card skimming and clonning.

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 Do You want to know how it works?

As your old credit and debit card store your data on the magnetic stripe found on the reverse side of your card where CVC mentioned. This makes it easy for a fraudster to copy your data when you swipe the card. EMV cards, in contrast, store your entire data on a microprocessor chip embedded in card, this means that the card generates fresh user data every time you transact, making it impossible for fraudsters to copy your orginal data which was generated from your card.

Another main Feature of EMV technology card is that they use both your card and a scret PIN to complete a transaction. When You use your EMV credit or Debit card at a ATM terminal, it generates a unique encrypted code called TOKEN or CRYPTOGRAM which is unique and specific only to that transaction.



Author Profile

Muhammad Faraz Jamil
I am a passionate Web Developer and WordPress Expert who has completed a Masters in Accounting & Finance. I have exceptional technical and analytical skills, with expertise in WordPress, PHP, MySQL, HTML, CSS, JavaScript, JQuery, Google Cloud Computing and profound knowledge of SEO, Keywords Research, Competitor Analysis, and Content Writing. Additionally, I have worked extensively in developing websites and comprehend the capabilities of different browsers. Furthermore, I am competent in building strategies regarding Cloud Server Working Virtually on VM or VMBOX too.
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