EMV cards are payment cards that use a microchip to enhance security during transactions. The acronym "EMV" stands for Europay, Mastercard, and Visa, the companies that developed this standard. These cards are designed to reduce fraud by generating a unique transaction code for each purchase, making it difficult for counterfeiters to replicate. When you use an EMV card, you typically insert it into a card reader instead of swiping it. This process is known as "chip and PIN" or "chip and signature," depending on the verification method used. Overall, EMV technology helps protect both consumers and merchants from fraudulent activities.