How does EMV address payments fraud?
Second, in an EMV transaction, the card is authenticated as being genuine, the cardholder is verified, and the transaction includes dynamic data and is authorized online or offline, according to issuer-determined risk parameters. As described above, each of these transaction security features helps to prevent fraudulent transactions.
Third, even if fraudsters are able to steal account data from chip transactions, this data cannot be used to create a fraudulent transaction in an EMV or magnetic stripe environment, since every EMV transaction carries dynamic data.
In the 8.5 version of NCR Counterpoint (due to release soon!), EMV transactions WILL be supported using an Ingenico ISC250 Pin Pad with a small on-site update provided by NCR further securing your credit card payment processing.
If you have any questions about the upcoming "migration" to EMV use, contact the CCS Retail Systems Support Department at 800.672.4806 oremail us.