Europay
Europay is a payment card system that was developed in the late 1980s to facilitate electronic transactions across Europe. It introduced the concept of chip cards, which store data securely and help reduce fraud. The system was designed to standardize payment methods and improve the efficiency of card transactions.
In 1993, Europay merged with MasterCard and Visa to create a global standard for payment cards, known as EMV (Europay, MasterCard, and Visa). This standard is widely used today, ensuring secure transactions through the use of embedded microchips in cards, enhancing safety for consumers and merchants alike.