What is EMV? How chip and PIN made card payments safer
By SendPay Business · · 2 min read
EMV is the global standard for chip cards, named after the three companies that created it: Europay, Mastercard and Visa. The small chip on a card makes each in-person payment much harder to copy than the old magnetic stripe.
How the chip protects a payment
- The card is inserted or tapped at a card machine.
- The chip creates a one-time code for that payment.
- The code is checked by the card issuer.
- A copied code cannot be reused for another payment.
Why magnetic stripes were easy to copy
A magnetic stripe holds the same data every time it is swiped, so a skimming device could copy it onto a fake card. The chip's one-time codes stop that kind of cloning for in-person payments.
Chip and PIN vs chip and signature
In the UK and much of Europe, the cardholder proves who they are by typing a PIN. Some countries used a signature instead for many years. Contactless payments use the same chip technology, with a spending limit per tap before a PIN is asked for; in the UK that limit is £100.
Where SendPay fits
SendPay does not sell card machines. SendPay platforms include branded Visa cards with chips under your own name, plus payment links and invoicing for taking payments without a terminal, powered by licensed partners.
Build it
Create your own financial platform.
Pick a template, name it, brand it, preview every page before you pay. Your brand, your users, your fees.
Build my platform →Questions people ask
What does a card machine really cost?
Compare two deals over the first year.
Card machine cost calculator →Read next
This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. PayPal, Patreon and Substack are named as reference points only and are not affiliated with SendPay Business.