• Ashutosh Ahuja

This paper examines the place of EMV technology in mitigating the security and operational issues which payment processors have to grapple with in cross-border transactions. The shift from magnetic stripe, or magstripe, to EMV standards was an altogether quantum leap to secure the payments, more so card-present transactions, by attempting to drastically reduce fraud and improve the reliability of such transactions. However, cross-border payments involve increased complexity with different payment infrastructures, interoperability problems, and different regulatory environments across regions that many times impede seamless EMV transactions and thus have affected both performance and customer experience. The current paper takes into consideration the main challenges that EMV-based payment processors face in a cross-border setting, while finding ways to optimize performance and make this more reliable across international markets. Drawing from the comparative analysis between the EMV and the magstripe technology, this paper assesses the business benefits to date and highlights remaining gaps in EMV adoption globally. The findings also reflect the need for further innovative steps to support secure, reliable, and consistent cross-border processing.

EMV Payment Technology, Online and Offline Transactions, Payments Processors, MSR, Transaction Security, Fraud Reduction, EMV Adoption, International payments

"EMV Payment Systems: Addressing Key Technical Challenges and Solutions", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.2, Issue 12, page no.995-998, December-2015, Available :http://www.jetir.org/papers/JETIR1701C51.pdf

"EMV Payment Systems: Addressing Key Technical Challenges and Solutions", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.2, Issue 12, page no. pp995-998, December-2015, Available at : http://www.jetir.org/papers/JETIR1701C51.pdf