In the context of increasingly cashless payments, transaction security and effective expense management become top priorities for businesses. The birth of EMV cards marks an important step forward in improving financial security. So the what is EMV? What benefits does it bring, and how should businesses use it to optimize efficiency? Let's find out the details with SeABank in the article below.

What is an EMV card?

EMV is a modern payment technology that uses integrated microchips (chips) on credit and debit cards to improve the security of all transactions. Born in the mid-1990s, EMV has now become a global security standard for card payments, managed by the EMVCo organization with the participation of major brands such as Visa, Mastercard, American Express, Discover, JCB, and UnionPay.

EMV chip cards are credit or debit cards with a smart microchip, allowing payment data to be processed and transmitted directly via the chip, instead of relying solely on the traditional magnetic stripe. Although the chip is integrated for safer transactions, most cards still retain the magnetic stripe to ensure flexible use.

EMV chip cards are cards equipped with EMV technology to make transactions more secure.

Outstanding benefits of EMV cards

EMV chip-integrated bank cards are currently considered the leading solution for transaction security, especially suitable for people who frequently pay or use cards abroad. Thanks to high security and convenience, this type of card is increasingly trusted by many businesses.

Some of the outstanding benefits of EMV chip cards include:

Fast and convenient payment: Make transactions online or at POS anytime, anywhere, no need to carry cash.
Transparent expense management: Provides detailed information about invoices, transaction codes, and receipts after each use.
Support a variety of services: Make transfers, withdrawals, online payments, and many other utilities.

The most notable strength of EMV chip cards is their superior security because each transaction will go through a two-way authentication process between the payment device, the issuing bank, and the international card organization (such as Visa, Mastercard).

In addition, every time an EMV card is used for payment, the EMV chip will generate a unique transaction code that will never be repeated. This mechanism helps to minimize the risk of fraud and, at the same time, increase the reliability of the business.

EMV chip cards help you manage your spending more transparently and conveniently.

Popular types of EMV chip cards today

Currently, EMV chip cards are divided into two main types, each with its own advantages and applications suitable for the financial management needs of businesses:

Contactless EMV chip cards: This type of card requires the user to insert the card directly into the card reader slot of a POS (Point of Sale) machine or ATM to make a transaction. Although the transaction speed is slower, this type of card has a high level of security, suitable for transactions that require absolute safety.
Contactless EMV chip cards: This type of card uses NFC (Near Field Communication) or RFID (Radio Frequency Identification) technology to communicate with a card reader. This type of card offers convenience and fast processing speed, often used in public transport systems, smart parking lots or payment points that require quick transactions.

Which bank should businesses use EMV cards for safety and reputation?

Choosing a reputable bank to use EMV cards is a key factor in helping businesses protect their financial transactions to the maximum. In Vietnam, many large banks have applied EMV chip card technology, in which SeABank stands out with its Visa Corporate Credit Card and SeAMileage co-branded credit card - a pair of comprehensive financial solutions that both ensure absolute safety and provide many utilities to support effective spending and cash flow management.

Advanced security with EMV standards and modern technology

Visa Corporate Card and Visa SeAMileage Card are both accepted. Equipped with an advanced EMV chip combined with a Contactless payment feature, helps businesses effectively prevent the risks of card copying or counterfeiting.

At the same time, technology 3D Secure Integrated on the card enhances the protection layer for every online transaction, ensuring that only the legitimate cardholder can make payments, providing absolute peace of mind in managing business finances.

The SeABank Corporate Visa Card is equipped with an advanced and secure EMV chip

Flexible financial management, optimizing cash flow

SeABank's Visa Corporate and SeAMileage cards are both powerful tools to help businesses manage their expenses transparently and effectively. Businesses can flexibly utilize their credit limits interest-free period of up to 55 days, and clearly separate public and private spending to control cash flow more easily. In particular, the card supports flexible payments both domestically and internationally, eliminating all foreign currency obstacles during international business trips.

Cashback and attractive offers

In addition to its outstanding financial management features, the SeABank Visa Corporate Card also offers maximum convenience. Businesses can make payments and withdraw money at millions of POS machines and ATMs worldwide.

Meanwhile, the SeAMileage co-branded credit card is directly linked to the Golden Lotus account under Vietnam Airlines' loyalty program, helping businesses accumulate spending to convert bonus miles and upgrade card status.

Affordable, accessible

SeABank offers a competitive fee policy, making it easy for businesses to access and use cards. With Visa Corporate, businesses are exempt from issuance fees, and the annual fee is only 350,000 VND/year for the main card and 250,000 VND/year for the supplementary card.

At the same time, SeAMileage is also free of issuance fees, with an annual fee of VND 2,200,000/year for the main card and VND 1,100,000/year for the supplementary card. Thanks to reasonable fees and many accompanying utilities, both card lines are easy choices for businesses to optimize costs and improve financial management efficiency.

The SeAMileage card annual fee has many incentives for businesses

Some things to keep in mind to safely use EMV chip cards

To ensure maximum safety when using EMV chip cards, businesses need to note the following issues:

Card information security: Do not share your card number, expiration date, CVV code, or PIN code. Only make online payments on reputable websites with HTTPS security certificates and limit the amount of time your card leaves your control.
Enable secure authentication: Always use OTP for all transactions and prioritize biometric authentication via banking apps for enhanced security.
Monitor transactions regularly: Check transaction history periodically to promptly detect unusual signs and contact the bank immediately when necessary.
Keep the card in good condition: Avoid damaging the chip and use an anti-RFID wallet to protect contactless cards from data theft.

Please note that you should not share your EMV card information with others.

Conclude

Hopefully, the article has given businesses a clear view of EMV cards and the outstanding benefits that this type of card brings. To optimize the payment experience and protect cash flow safely, businesses can refer to and choose EMV chip card solutions from SeABank, a bank that accompanies businesses in all smart, safe, and sustainable financial activities.

For more information, please call hotline 1900 599 952 or contact the nearest Branch/Transaction Office for advice and support.