EMV names the chip-card standard associated with Europay, Mastercard, and Visa.
The initials originally represented Europay, Mastercard, and Visa, the organizations that developed the first widely adopted specification for payment cards with embedded computer chips. EMV cards can authenticate transactions using chip technology rather than relying only on a magnetic stripe.
The standard supports payment cards, terminals, and transaction-processing rules. Depending on the country and transaction, a chip card may require a PIN, a signature, or no visible customer verification for a low-value contactless purchase.
EMV is not the same as contactless payment. Many contactless cards use EMV chip technology, but EMV also covers cards inserted into terminals. PIN means personal identification number, while PCI refers to a separate set of payment-card security standards.