EMV is a payment standard for smart payment cards, payment terminals and automated teller machines (ATMs). EMV is an acronym for "Europay, Mastercard, and Visa", the three companies that created the standard. EMV cards are smart cards, also called chip cards, integrated circuit cards, or IC cards which store their data on integrated circuit chips, in addition to magnetic stripes for backward compatibility.
For more information, see the Key Concepts Guide.