EMV chips are small, embedded microprocessors found in payment cards, such as credit and debit cards. The acronym EMV stands for Europay, Mastercard, and Visa, the companies that developed this technology. These chips enhance security by generating a unique transaction code for each purchase, making it difficult for fraudsters to clone cards. When you use a card with an EMV chip, you insert it into a card reader instead of swiping it. This process, known as "chip and pin" or "chip and signature," helps protect against unauthorized transactions. EMV technology is widely adopted around the world, improving the safety of electronic payments.