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EMV Migration Forum publishes standardized terminology

March 8, 2013

The EMV Migration Forum has released "The Standardization of Terminology," its first official publication. The document was developed by the forum's Communication and Education Working Committee; it defines common chip and EMV terms for use in educational and marketing communications.

"Education is the most important component to ensuring a seamless migration to chip-based EMV in the United States," said Randy Vanderhoof, acting director of the EMV Migration Forum. "The use of this document will help ensure that the terminology and definitions used in educational materials are clear and uniform across the entire payments industry, and provide a deeper understanding of EMV and how it makes our payments infrastructure more secure."

"The Standardization of Terminology," features four central elements:

1. Recommended standardized term (and abbreviation, if indicated)
2. "AKA" terms
3. Industry stakeholder definition
4. Cardholder/customer definition

An example of a term in the document is the cardholder verification method, or CVM (at right):

"The Standardization of Terminology" is available as a free download. The document was developed as part of an initiative led by Sue Ross, business leader at MasterCard. The document will be updated periodically based on industry feedback.

The EMV Migration Forum is a cross-industry organization formed to address issues related to EMV migration in the U.S. that will require broad cooperation and coordination. The forum comprises 120 member companies, including payment brands, financial institutions, ATM operators, merchants, processors, acquirers, regional debit networks, industry suppliers and industry associations.

Read more about EMV.