Kenya: How Chip Security Is Changing the World of Electronic Payments

4 February 2014
opinion

EMV card chips have transformed the world of credit and debit card payments. The little chip that sits on the left side of the plastic cards people carry in their wallets has made the world of electronic payments more secure and faster.

The technology was named in the mid-1990s after the three primary electronic payments companies that developed it: Europay, Mastercard and Visa (EMV). In 1999 EMVCo was established as an independent company by the same three founding partners to manage, maintain and develop chip technology. More than 14 years later, the company is still on the forefront of card chip security and is considered the industry standard.

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