EMV Definition.
Global standard for chip and contactless cards, managed by EMVCo (Visa, Mastercard, Amex, JCB, Discover, UnionPay). Each transaction generates a dynamic cryptogram, which makes chip cloning impractical, so fraud has shifted massively to remote channels (CNP). EMVCo also specifies 3-D Secure, payment tokenization, and EMV QR codes.
See also
Where this term appears
GuideThe four-party modelGuideThe role of banksGuidePayment schemesGuideManaging SCA exemptions: fraud rates, audits, and losing the exemptionGuidePayments in Spain and PortugalGuidePayments in SwitzerlandGuidePayments in BrazilGuidePayments in the Caribbean and Central AmericaGuidePayments in ColombiaGuideUS debit and Durbin routingGuidePayments in South Asia outside IndiaGuidePayments in Southeast Asia