EMV is named for the credit card payment standard that’s been adopted by 22 countries, including much of Europe, Canada, Mexico, Brazil and Japan. Another 50 countries are in various stages of moving to them in the next two years, including China, India and Latin America.
Though people commonly call it chip-and-PIN, the technical term is EMV. It’s a global technology specification for payment adopted by MasterCard, Visa, JCB and American Express. It ensures that chip cards work with point-of-sale terminals and ATMs from country to country, to authenticate credit and debit card transactions. The PIN adds another layer of security.
See also, What is Chip-and-PIN?0