EMV Chip Cards Seen Lowering Retailer Costs

EMV Chip Cards Seen Lowering Retailer Costs

Beginning this October, retailers who process most of their Visa card transactions from payment terminals capable of handling EMV chip-based cards will be able to avoid having a PCI data-security audit on an annual basis — and eventually pay lower interchange fees as well.

EMV (Europay, MasterCard and Visa) is a global standard for chip cards that has been adopted in Europe and other industrialized countries, but is just beginning to be used in the U.S. EMV cards, which supp

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