The payment processing industry has evolved greatly since the days of carbon copy imprinting. Recent developments in electronic communications and data protection have improved security and convenience for both the retailer and the consumer. The following are some of the technologies and standards that are influencing the way we buy, sell and trade today.


EMV stands for Europay, MasterCard and Visa. Credit cards with EMV technology are safer and more advanced than the traditional magnetic stripe card. Magnetic stripes hold static data on the card owner and the account that is reused for every transaction. It is easy to steal, duplicate, and counterfeit. EMV technology encrypts and protects information by changing the unique data each time the card is used for a transaction, reducing the value of the information that is transferred and making fraud less attractive. EMV cards make international travel easier because many businesses outside of the United States will not accept a magnetic stripe card. Banks in the United States are currently transitioning its credit cards to EMV technology.


Near Field Communication technology allows different devices, such as smartphones or tablets, with an NFC tag to communicate with each other. Standards for NFC security on these devices are set by the NFC Forum. NFC allows devices to share information or to be paired with a wireless speaker or printer. However, new developments are also allowing NFC to turn cell phones into payment devices using card emulation. As more retail establishments purchase processing devices with an NFC tag, payment with cell phones or other mobile devices will become more common.


PCI stands for Payment Card Industry Data Security Standard. This international standard protects data theft in credit card payment processing. All major credit card associations support PCI and require merchants to be PCI-compliant before accepting credit card payments. PCI compliance is an important part of any retailer's security plan.

Maiden Payments can help you understand and stay up-to-date on the latest payment technology and the benefits that it offers to your business.