EMV technology is an additional security layer to prevent credit card fraud. It stands for Europay, Mastercard, and Visa and is the global technology payment standard for chip and PIN technology. The chip card and PIN are used together for chip card transactions. Users receive a four-digit number via SMS and/or email that is used to validate the transaction. An EVM card, once swiped, generates a unique transaction code for every transaction. The same transaction code cannot be used again for another transaction.