STRATEGIC PARTNERS
A short video presentation produced by the EMV Migration Forum explains in simple, unblushing terms how a cryptogram is made — and why it's important.
December 11, 2014
The cryptogram is the component of the chip transaction that verifies whether the chip and the issuer in a transaction are genuine ... or not. But understanding how this verification process actually occurs can be somewhat confusing to anyone new to the technology. And — truth be told — even to some not so new to the technology.
This week, the EMV Migration Forum released a new video tutorial, "Contact Chip Card Online Authentication," that makes the process of online generation and verification of cryptograms less, well, cryptic.
"The creation of dynamic cryptograms for every transaction with online authentication is an important feature of chip cards that provide enhanced levels of security," said EMV Migration Forum Director Randy Vanderhoof.
"Using this process means that even if fraudsters were somehow able to steal account data from chip transactions, they would not be able to use it to create a counterfeit card and have fraudulent transactions authorized in a chip or magnetic stripe environment. This presentation explains in easy-to-understand detail how this important security process occurs in a chip transaction."
The video presentation, "Contact Chip Card Online Authentication," was developed by the Communication and Education Working Committee of the EMF, led by Brady Cullimore, director of the U.S. EMV project management office at American Express.
