Understanding EMV

The video provides an overview of EMV technology, discussing its key features and various applications.

What does EMV stand for in the context of payment technology?

• Europay, MasterCard, and Visa

• Encrypted Monetary Value

• Enhanced Mobile Value

• Electronic Money Verification

Which component is essential for the functioning of EMV technology?

• Chip

• Magnetic stripe

• QR code

• Barcode

How does EMV technology enhance transaction security?

• By requiring a signature

• By using a magnetic stripe

• Through contactless payment

• Through chip-based authentication

What is a key benefit of implementing EMV technology?

• Faster transaction speed

• Reduced card fraud

• Lower transaction fees

• Increased card durability

Which of the following is NOT a part of EMV technology?

• Barcode

• Contactless payment

• Magnetic stripe

• Chip