EMV is a payment method based upon a technical standard for smart payment cards and for payment terminals and automated teller machines which can accept them. EMV chip cards are becoming the industry standard method for processing credit or debit card. EMV cards are smart cards, also called chip cards, integrated circuit cards, or IC cards which store. EMV chip technology is the latest global standard for card payments. EMV is short for Europay, MasterCard, and Visa, the 1994 founders.