What is an EMV card? Why are EMV cards more secure than magnetic cards?

Nowadays, most of us are making payment transactions directly via bank cards, so the security and safety of the cards are of top concern. EMV chip card is considered a modern card with high security features, used by many banks. So what is an EMV card? What are the advantages of EMV card?

Let’s find out in this following article!

What is an EMV card?

EMV stands for Europay, MasterCard, Visa. EMV card is an international standard smart chip card, developed by three world’s biggest companies in financial services and payment, namely Europay, Visa, MasterCard. EMV card is a chip card that minimizes risks for customers because it has a versatile processor, capable of storing important information encrypted with high security.

An EMV chip card is a card with a small yellow metal square on the card’s face, which is smaller than a phone SIM. Currently, most cards such as credit cards, debit cards, atm cards, etc of banking systems around the world are fitted with EMV chips to secure customer information and avoid forgery.

What are the advantages of EMV cards?

A bank card with an EMV chip is the best security method, especially for cards that can be used abroad. The advantages of EMV cards are still the same as those of conventional payment cards, which are:

  • Paying online 24/7, anytime, anywhere without using cash
  • Receiving bills, transaction codes, receipts after each transaction for direct verification
  • Being able to perform many transactions such as money transfer, withdrawal, online payment, etc.


In addition to the above characteristics, the superiority of EMV chip cards is safety and security. To make transactions on EMV chip cards, you must go through two-way confirmation steps from the card receiving device to the paying bank, the MarterCard/Visa organization. The transaction is only successful when it is authorized by all relevant organizations.

Every time a customer uses an EMV card to pay, the EMV chip set will generate a unique transaction code and never repeat. In case your card information is stolen, the stolen transaction code will be unusable and the fake transaction will be rejected.

See also: What is ATM card? Benefits of ATM card

Why is an EMV card more secure than a traditional bank card?

A traditional bank card is a magnetic card, with a metal magnetic stripe on the card’s surface. All information of the card is fixed under the magnetic tape, stored in the form of text, not encrypted for security. Therefore, any device that can scan the data will know all the information about the card number, pin code,.. and proceed with the transaction as usual.

Identity theft from the magnetic card can be done many times because the data information in the card is fixed. Therefore leading to information theft, stealing money in traditional bank cards is very easy.

Being completely different from magnetic cards, EMV chip cards when transacting will create a unique transaction code and never overlap. Transaction is successful if and only if complicated two-way confirmation steps are passed from the card receiving device to the bank.

How to use EMV card

When using EMV cards for payment, transactions are authenticated, verified and authorized quickly, securely and intelligently. In Vietnam, EMV chips are used in credit cards of major banks such as Vietcombank. How to use EMV card is very simple.

Using EMV card with individual customers

For individual customers, EMV chip cards are used in the same way as traditional bank cards (magnetic cards). Transactions at the ATM case will be done as usual, very simple, convenient, fast and highly secure.

Use EMV card with institutional customers

Vietcombank EMV card is very popular and reliable to institutional customers. They can easily manage and control all transactions by getting the transaction code in the payment steps and managing the preset beneficiaries.

Getting the transaction code will be applied in all transfer transactions such as tax payment, import and export, payment of statements and transactions of the Account Holder approving the transaction limit of the Accountant.

How to get the code:

  • Step 1: Insert the EMV card into the card reader. Pay attention to put the card head with the chip into the card reader.
  • Step 2: Power on the card reader.
  • Step 3: Select menu.
  • Step 4: Select OK. Enter the PIN and select OK.
  • Step 5: Enter the Challenge number (Displayed on the Internet Banking screen) and select OK.
  • Step 6: Press Menu to select the transaction currency, then select OK.
  • Step 7: Enter the transaction amount and select OK.
  • Step 8: The screen displays the OTP transaction code.

How to get the transaction code in the Predefined Beneficiary Management transaction:

  • Step 1: Insert the EMV card into the card reader. Pay attention to insert the card head with the chip into the reader.
  • Step 2: Power on the card reader.
  • Step 3: Select C&R.
  • Step 4: Enter the Challenge number (Displayed on the Internet Banking screen) or select OK.
  • Step 5: The screen displays the OTP transaction code.

Note, customers use EMV cards with high security but still have to be vigilant and careful to avoid card information disclosure by deleting the CVV number on the back of the card to avoid losing the card. When making payment transactions with EMV cards, customers still have to ask for a pin code or signature to ensure information security.

Banks Offering EMV Chip Cards

Almost international banks such as HSBC, CitiBank … are using this chip card. Domestic banks are also gradually switching to using EMV cards such as Security bank, BDO, Metrobank … In the near future, most banks in Philippines will use this card to increase the security.


What should we notice when using EMV chip card?

It is not recommended to withdraw money at an ATM outside the system because the withdrawal fee is very high (4%/amount)

Only transfer money within the system via ATM;

EMV card is an international card, so it can be purchased online and used globally. You should also remove the CVV number on the back of the card;

The annual fee is only about 1000 PHP higher than that of a magnetic card, depending on the bank.


Hopefully, through the information of the above article, customers have better understand what EMV card is. If you need to open a credit card like MasterCard or Visa, you should choose an EMV chip card to be assured of its high security and safety.

See also: What is Mobile Banking? Should I use Mobile Banking?

5/5 - (2 votes)

Leave a Reply

Your email address will not be published. Required fields are marked *