One of the ways EMV promises to revolutionize the U.S. payments ecosystem is by expanding the cardholder verification methods, or CVMs, available to merchants and processors. CVMs allow a merchant to confirm that the consumer using the card is actually the person who owns it, thereby reducing the risk of fraudulent transactions being made at your business.
EMV smart cards can be programmed to support a variety of CVMs. Similarly, terminals can be configured to support a variety of CVMs. Cards are also programmed with a prioritized list of accepted CVMs. During transactions, the terminal and card will proceed through the card’s ordered list and use the first CVM supported mutually by the terminal and card.
Types of CVMs
There are four CVMs that can be used during an EMV transaction:
- Offline PIN
- Online PIN
- Signature
- No CVM
Interested in EMV compliance?
Host Merchant Services offers EMV solutions for business owners. If you’re interested in getting a head start on the rest of the U.S. market, contact an HMS sales representative today and ask about our EMV-compliant equipment and processing options.