According to the Federal Reserve, Chip and PIN technology involving a secure microchip used with a numeric code makes transactions about 700 times more secure than older payment methods.
Is Chip and PIN technology a priority at your credit union in 2015?
Join Ann Davidson, VP of Risk Consulting, Allied Solutions and Joe Majka, Vice President & Chief Security Officer, Verifone Inc. on March 4th to learn about Chip and PIN technology and other emerging payment solutions (e.g., Apple Pay, tokenization, etc.) that can help your credit union reduce the risk of data breaches.
Ann advocates that credit unions seize the golden opportunity to reduce risk through the adoption of Chip and PIN technology and shares 5 things you need to know about the impact of the rise of Chip and PIN:
CHIP and PIN’s Golden Opportunity
Chip-and-PIN cards, also called EMV (Europay, Mastercard, Visa), or smart cards, utilize a computer chip embedded in the card to authenticate transactions. When this card is inserted into a chip-enabled reader to make a purchase, the chip on the card communicates with the reader by sending a one-time, dynamic code unique to that transaction.continue reading »