In a newly published paper, David Basin, Ralf Sasse, and Jorge Toro-Pozo from the department of computer science at ETH Zurich, explain that vulnerabilities identified in the standard EMV implementation could be exploited to render the PIN verification useless on Visa contactless transactions.
Developed in the mid-90s and named after its founders (Europay, Mastercard, and Visa), EMV is the international standard for smartcard payments, being used in over 80% of card-present transactions worldwide.
