EMV: Technology for PaymentPawan Prasopmanachai
Chip cards, also called smart cards, are the cards that are embedded with integrated circuits or microchips for storing their data. There are memory unit and processing unit in the chip for making the transactions safer by the technology or standard which called “EMV”.
EMV originally stands for “Europay, MasterCard, and Visa” which are the three finance network companies that created this standard. EMV is a payment method based upon a technical standard for smart payment cards (debit card, credit card), payment terminals (reader), and automated teller machines (ATM) that can accept them.
Today, EMV is a technology toolbox that enables globally interoperable secure payment across face-to-face and remote environments. The standard is now managed by EMVCo which is comprised of several member organizations including Visa, Mastercard, Discover, Amex, JCB, and UnionPay. The EMVco organization manages and determines requirements for all three levels. They also designate and authorize test labs to complete testing of payment terminals against the EMV Specifications for levels 1 and 2. EMV certification only then earns level 3 after the equipment issued has passed tests with each of the aforementioned card brands.
- EMV Certification Level 1: Hardware
- EMV Certification Level 2: Kernel/Library
- EMV Certification Level 3: Brand Certification
SIC had developed and launched RA12 which is an RFID reader microchip in 2019. Now the RA12 is in the testing process for EMV certification level 1. We expect that our chip can be developed to use in the payment terminals soon. Also, this is a good opportunity for the developer to develop this microchip to the level 2 and 3 in the next process.