EMV stands for Europay Mastercard and Visa. The "chip and pin" is the global card technology of choice. The United States is one of the last countries to join the EMV migration. EMV became the standard in the industry in 2005 and began in 1999. The current techonology (the Mag stripe) is the same technology as the casette tape. There is a dynamic security code with each EMV transaction therefore it is impossible to counterfeit the card. All EMV chip cards work the same. The cardholder inserts the card similar to an ATM and the card stays in the EMV compliant credit card processing device during the transaction. The card does not need to leave the customers hands. In about five years from now the magstripe will be eliminated completely and the chip and pin technology will become the norm.
As of October 1, 2015 merchants who do not have EMV ready equipment will become responsible for fraudaulent transactions. Please be aware and protect yourself from this possibly devistating seneraio.