EMV, or chip cards, contain a small but powerful embedded microprocessor that provides enhanced security and higher transaction speed, while also being able to carry other applications that improve the consumer's payment experience, such as customer loyalty programs. Chip card technology can also be used in new acceptance environments such as public transit, vending machines, and parking.
What is VSDC (Visa Smart Debit Credit)?
VSDC is a chip-based solution offered by Visa that allows banks to combine the functionality of their debit and credit products with the strategic flexibility of chip technology. VSDC products offer a globally interoperable payment service together with a risk-control enhancement package that is available only with chip technology.
Is there a similar product offered by Mastercard?
MasterCard and Visa generally release products that provide similar functions. MasterCard's product is M/Chip-Lite.
What function does M/Chip-Lite primarily provide?
MasterCard M/Chip Lite can be described as a highly efficient version of MasterCard M/Chip. It is a low-cost solution that allows banks to make a smooth start during the transition to chip.
