Main Glossary

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EMV is an abbreviation of the three companies Europay International, MasterCard and VISA,
who developed the EMV standard. EMV is a norm for payment cards and for the correspondent acceptance devices (POS terminals and ATMs). The EMV norm is managing two main tasks: interoperability and flexibility. Interoperability means that the same cross-system and transnational card- and terminal utilisation known from the magnetic stripe technology is also given at the chip card technology. Flexibility means that furthermore every monetary transactions system must have the possibility to realise individual requirements beyond the interoperability.


The EMVCo is a federation that manages and supports the Integrated Circuit Card Specification for EMV chip based payment cards and acceptance devices. It also controls whether the testing and approval processes meet the EMV specification. American Express, JCB, MasterCard and VISA are the current owners of EMVCo.


The European Telecommunications Standards Institute (ETSI) was founded in 1988 by CEPT (European Conference of Postal and Telecommunications Administrations). It is a standardisation organisation in the telecommunications industry in Europe and produces international standardised technologies for the information and communication field including fixed, mobile, radio, broadcast, internet, aeronautical and other areas. ETSI is recognised as an official European Standards Organisation by the European Union, enabling valuable access to European markets.