It's important to note that fraud liability will eventually shift to merchants that have not implemented an EMV structure. Beginning in October 2015, the merchant, not the issuing bank, will be liable for counterfeit card transactions if the merchant receives a fraudulent EMV bank card but has not installed an EMV-capable terminal.

What is EMV?

EMV is a security framework that defines the payment interaction at the physical, electrical, data and application levels between chip cards and payment devices. These interactions are often referred to as EMV Level 1 and 2 requirements. EMVCo was created by the payment networks to be a neutral party in making this standard framework

How Does it Work?

Smart cards are embedded with a chip that is encrypted with data. EMV-enabled devices have the ability to read data stored on a chip within the card. During the transaction authorization process, strong crystallographic functions are used to validate the authenticity of the card and cardholder.

Best of all, when a customer pays using an EMV-enabled device, the device is instantly identified as an authentic, approved payment instrument through a process called dynamic authentication. When used with a PIN, the chip proves that the customer is paying with his or her own card.

By using chips as an active part of the payment transaction, EMV cards and devices help prevent credit card fraud from stolen account numbers and cloned payment cards.

Evolution Solutions (VX 520)

VeriFone's entire VX Evolution line supports contact and contact-less transactions. Coupled with advanced security and the reliability and performance of the proven VX platform, EMV has never been so easy. From market-leading enhancements including increased memory, end-to-end encryption to the first ARM11 processor in payments, all within an integrated security core.

The VX 520 is a reliable, rugged counter top device that's built to last. It handles encryption, decryption and processing at lightning speeds thanks to its powerful processor and expandable memory. Integrated NFC capabilities support alternative payments and also supports value-added applications such as loyalty or gift card acceptance.

A full range of connectivity options, from dial and Ethernet to GPRS, with an optional battery allows the VX 520 to go wherever you go. A uniquely designed communication port area underneath the device keeps counter tops neat and free of clutter.

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Evolution Solutions 2 (Ingenico ICT220,250,IWL250)

Robust, Secure and Modern

Sleek all-in-one payment device features everything needed to process payments and is ready now for EMV, contact less, mobile wallets and POS marketing & loyalty programs

• Supports the latest EMV and PCI standards
• Easily passes from clerk to customer for secure card, PIN and data entry
• Integrated contact less reader facilitates payments via a simple tap of a card, mobile phone or other device.