Description
Bank EMV chip cards use ISO standards, primarily ISO/IEC 7816 (for contact chips) and ISO/IEC 14443 (for contactless), forming the foundation for secure transactions, authentication, and data exchange managed by EMVCo. These specifications, alongside ISO 8583 (transaction messages) and ISO 4217 (currency codes), define how chip cards interact with terminals for secure online/offline payments, digital signatures, and more, making them safer than magnetic stripes.
Key ISO Standards & Concepts:
- ISO/IEC 7816: The core standard for integrated circuit (chip) cards, covering physical characteristics, electrical interfaces, and communication protocols (like T=0, T=1).
- ISO/IEC 14443: Defines standards for proximity cards (contactless chips).
- ISO 8583: Specifies the format for financial transaction messages, enabling communication between cards, terminals, and networks.
- ISO 4217: Defines currency codes (e.g., USD, BDT) used in transactions.
- EMVCo: The organization that maintains and evolves the EMV specifications based on these ISO standards.
How It Works (Simplified):
- Contact/Proximity: The card’s chip communicates with the terminal via physical contact (dipping) or proximity (tapping).
- Application Selection: The terminal and card select the appropriate payment application.
- Data Exchange: Secure data (like cardholder verification data) is exchanged using defined commands and responses.
- Authentication: Cryptographic checks (Offline Data Authentication – ODA) verify the card’s authenticity.
- Cardholder Verification: PIN entry or other methods verify the user.
- Risk Management: The terminal decides to approve, decline, or send the transaction for online authorization.
In essence, banks use these globally recognized ISO standards to ensure their EMV chip cards offer secure, standardized, and interoperable payment experiences
