What is EMV and Why is it Important?

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What is EMV and Why is it Important?
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EMV Is A Set Of Specifications Defined By Europay
International, MasterCard Worldwide, And Visa To
Define Interoperability Standards For Smart Card
Transactions. The EMV Specifications Were First
Published In 1996.
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The Key Objectives Of EMV Are To Reduce
Counterfeiting And Fraudulent Transactions And To
Standardize All Payment Solutions On A Singular
Specification Recognized Around The Globe.
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