We all know that the chip, or EMV, POS is becoming the new standard for card-reading technology. But what is the difference between the original magnetic stripe and the new EMV? And which one is better?
Over the last few years, many credit and debit card issuers have added the EMV chip to their cards. These are the little golden spots on cards that look somewhat like mini circuit boards. Inside them, microprocessors are embedded that encrypt data and make it more secure during transactions. There are many upsides to enabling your point-of-sale (POS) equipment for reading these chips. Here are some of the main benefits: