The EMV standard is transferred from the magnetic stripe card to the smart IC card by the international three major bank card organizations - Europay (European Card, which has been acquired by MasterCard), MasterCard (MasterCard) and Visa (Visa). The technical standard is based on the financial payment standard of the CPU IC card and has become a recognized framework standard. The purpose is to establish a unified standard for cards and terminal interfaces in the financial IC card payment system, so that all cards and terminals in the system can interoperate with each other, and the adoption of the technology will greatly improve the security of bank card payment and reduce Fraud. The officially released versions are EMV96 and EMV2000.
The EMV2000 standard is the basic technical standard for the international financial IC card debit/credit application. It is jointly developed by the three major international bank card organizations. The main contents of the standard include the loan transaction application transaction process, debit/credit application specification and security. Authentication mechanism, etc.
EMV migration is to promote the upgrade of bank magnetic stripe card to chip card technology in various aspects such as card issuance, business process, security control, acceptance market, information transfer, etc. according to EMV2000 standard, that is, to change the bank card that uses magnetic stripe now. Switch to a bank card that uses an IC card. With the development of information technology, microelectronics technology and the improvement of EMV standards and the implementation of the international EMV migration plan, the development trend of bank card chip is becoming more and more obvious.
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