EMV (Europay MasterCard and Visa) is a chip based ATM card. RBI announces to change the magnetic strip ATM card to EMV ATM card.
WHAT IS MAGNETIC STRIP ATM CARD:
It consists of magnetic strip coded with user detail for transaction of money and withdrawal from ATM machine. In those we using ATM card instead of going to bank and withdrawal of money. The major disadvantage of the card is skimming fraud process which the theif theft the money without user intention. The skimmer is inserted in the ATM machine and scanning our pin number and making douplicate card for withdrawal of money.
In 2013 RBI announces a magenti strip with chip based card which improving the user security. Their lots of step improving with two step verification such as otp password and some of issues in this method. Hacker will easily to hacking the data and making the user loss.
WHAT IS EVM ATM CARD:
It based on the chip basics of card the information is encrypted in the card and hacker cannot easily decrypted the card. The user information is very safe in the card.
HOW TO APPLY EVM CARD:
If you have already in ATM card and go to the bank apply for EVM card and bank officer gives the form and on it.
WHAT IS MAGNETIC STRIP ATM CARD:
It consists of magnetic strip coded with user detail for transaction of money and withdrawal from ATM machine. In those we using ATM card instead of going to bank and withdrawal of money. The major disadvantage of the card is skimming fraud process which the theif theft the money without user intention. The skimmer is inserted in the ATM machine and scanning our pin number and making douplicate card for withdrawal of money.
In 2013 RBI announces a magenti strip with chip based card which improving the user security. Their lots of step improving with two step verification such as otp password and some of issues in this method. Hacker will easily to hacking the data and making the user loss.
WHAT IS EVM ATM CARD:
It based on the chip basics of card the information is encrypted in the card and hacker cannot easily decrypted the card. The user information is very safe in the card.
HOW TO APPLY EVM CARD:
If you have already in ATM card and go to the bank apply for EVM card and bank officer gives the form and on it.
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