By Cristian Radu
As magnetic stripe playing cards are being changed by means of chip playing cards that provide shoppers and companies larger safety opposed to fraud, a brand new regular for this expertise is being brought through Europay, credit card, and Visa (Emv). This state-of-the-art, new ebook provide you with a accomplished review of the Emv chip answer and explains how this know-how presents a chip migration course, the place interoperability performs a primary function within the enterprise version. The publication provide you with a greater figuring out of the safety difficulties linked to magnetic stripe playing cards, and offers the company case for chip migration. in addition, it explains the implementation of multi-application choice mechanisms in Emv chip playing cards and terminals, and indicates you the way to layout a multi-application Emv chip card format. This first-of-its-kind source additionally discusses the organizational and administration concerns in reference to the Emv chip migration and using Emv chip playing cards in e-commerce and m-commerce transactions. an exceptional reference for present day It/e-commerce execs and post-graduate pupil alike, the ebook is helping you absolutely comprehend this rising, advanced money card expertise.
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Additional info for Implementing electronic card payment systems
Each brand develops the necessary network infrastructure to support its cards, providing the availability of retail financial services for the customer. Some of the most known card associations are Visa , MasterCard , American Express , Europay , Diners Club , Discover , and JBC , to name only those reaching a global scale. Some of these card associations, like Visa, MasterCard, and Europay, are built as membership associations of banks, which mutually recognize and guarantee the payments done with their payment cards.
The first digit of the IIN specifies the major industry identifier (MII). It designates the branch of activities in which the issuer of the card is involved. The MII differentiates between cards issued by airline, travel and entertainment, banking and financial, or petroleum companies. The remaining digits of the IIN, which are referred to as the issuer identifier, designate a specific issuer in that branch of activities. 5 Focusing on the magnetic stripe card 19 ◗ The individual account identification is an individual number assigned by the issuer for the purpose of identifying an individual account related to the cardholder.
Every time a transaction is authorized on-line, the card security number is compared against the stored value. If the two values are equal, the issuer host performs the authorization process, otherwise the authorization is aborted, and the card is considered counterfeit. If the authorization process is continued, the issuer host sends back a fresh random number in the authorization response, which is correspondingly updated in the cardholder accounts database. At the point of service the terminal dynamically updates this value in the card security number.