Therefore, it was necessary to develop a more secure financial transaction that uses EMV (Euro, MasterCard, and Visa) technology. Savvy thieves have created ways to intercept this information. Whenever someone swipes their card, it transmits their same identifying information to the cardholder's financial institution. Magnetic cards have a thin magnetic label on the back of the credit card that contains the card holder's bank card number and other information. The cards' names come from the credit card issuers who created it, Europay, MasterCard, and Visa. That is just what business owners risk each day that they continue to use magnetic strip cards instead of the new, more secure EMV technology cards. Whether you are a small, medium, or large business owner, losing money due to fraudulent activity can be detrimental to your business.
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