Security

Chip and PIN and the PCI Data Security Standard

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Executive Summary

Chip and PIN is a British government-backed initiative to implement the Europay, MasterCard and Visa (EMV) standard for credit cards with a built-in Integrated Circuit (IC), also known as IC Cards or Chip and PIN. The purpose of Chip and PIN was to reduce the amount of fraud in face-to-face credit card transactions. Chip and PIN is a worldwide standard that has been extensively implemented in Canada and Europe, but has not been introduced into the United States or most of the Far East. With the exception of Discover Financial, all of the other major card brands (Visa, MasterCard, JCB and American Express) have adopted various forms of the Chip and PIN technology. The purpose of this paper is to explain the issues with Chip and PIN credit cards and their compliance with the PCI Data Security Standard.

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