EMV stands for EuroPay, MasterCard, Visa. It is a new payment standard that was recently implemented by the United States after being used in Europe for many years. The standard includes cards that are issued with chip technology that helps to secure transactions. These transactions will usually require a PIN or a signature. The EMV standard is required on cards as well as payment terminals. Ultimately, the EMV standard shifts the liability of the transaction security to the merchant, who must be using an EMV-compliant system to process the transaction.