Integrated Circuit Card
What Is an Integrated Circuit Card?
An integrated circuit card, or chip card, is a payment card that utilizes an embedded microchip to store data notwithstanding (or rather than) a traditional magnetic stripe. Integrated circuit cards are made of plastic or a comparable material and are most frequently associated with specific credit cards known as EMV or chip-and pin credit and debit cards.
Understanding an Integrated Circuit Card
Integrated circuit cards permit the storage of information on the actual card. A customer's information is accessed when the payment card is utilized in a card reader. Combined with other security measures like a PIN or secret key, the chip permits the secure transmission of personal and financial information.
EMVCo deals with the technology standards behind integrated circuit payment cards. These types of cards are otherwise called "brilliant cards" due to their integrated circuit chip. However they were initially utilized in Europe and Asia, their utilization has spread to the United States. EMV has turned into a standard in payment card security technology and has been conveyed by financial institutions, for example, banks and credit card suppliers.
While integrated circuit cards are frequently associated with credit and debit cards, they are likewise utilized in different settings. For instance, employees might be assigned an identification card that they must output to be permitted inside a secure building.
How Integrated Circuit Cards Are Used to Combat Identity Theft
Magnetic stripe cards have been habitually copied, permitting identity criminals to make duplicates of the original card, as well as sell the account information they have unlawfully accessed. The utilization of the embedded chip in a payment card can reduce such fraud as it makes skimming a less effective means of accessing account information.
Transactions with an integrated circuit card require the chip to be embedded into the chip reader, where available, in this manner making the magnetic stripe a backup feature to be utilized just when a chip reader isn't available. Since fraudsters can't access the information secured by integrated circuit cards as effectively as a magnetic stripe, they're not able to validate their illegal transactions. Many integrated circuit cards likewise have a contactless payment method, by which the chip can be perused a short distance, further keeping away from the utilization of a magnetic stripe.
Because of this enemy of theft technology, integrated circuit cards are seeing more use at retail areas as more chip readers are acquainted with oblige this form of payment security. The cards normally incorporate a magnetic stripe too to permit transactions to be completed in the event that a chip reader isn't available at a retailer's store.
Features
- Integrated circuit cards contain a microchip that stores the cardholder's information, the most common being EMV or chip-and pin credit or debit cards.
- These cards are an obstruction against identity theft as they try not to utilize the magnetic stripe of a card, which builds the simplicity of data skimming for identity hoodlums.
- Integrated circuit cards are principally utilized in credit cards and debit cards however are regularly utilized in different settings, for example, employee identification cards.
