While American credit cards use the 40-year-old magstripe technology to process transactions, much of the rest of the world uses smarter cards with a technology called EMV ( short for Europay, MasterCard, Visa) that employs a chip embedded in the card plus a customer PIN ( personal identification number) to authenticate every transaction on the spot.
⇑ Translate the sentence above by Google ⇑
Related: transaction
Prev: Only the transaction owner can roll back the transaction.