EMV Cards / Chip and Pin
The EMV Specifications and related testing processes aim to facilitate worldwide interoperability and acceptance of secure payment transactions. The following EMV Specifications are currently managed by EMVCo: EMV Contact – Currently in v4.3, this specification is for chip-based contact payment cards and terminals. EMV Contactless – Currently in v2.3, this specification is for chip-based contactless payment cards and terminals. EMV Next Generation – Currently in development with the consultation of stakeholders worldwide, this specification will be backwards-compatible with EMV Contact and EMV Contactless Specifications. A draft specification is expected in 2014, with a final specification the following year. EMV Common Payment Application (CPA) – v1.0 of this specification is a Common Core Definitions (CCD)-compliant application. EMV Card Personalisation Specification (CPS) – v1.1 of this specification standardises EMV card personalisation. EMV Tokenisation Specification – Currently in development with the consultation of stakeholders worldwide, this specification addresses the process of replacing a traditional card account number with a unique payment token. A draft specification is expected in 2014.