The Cryptomathic white paper explains EMV key management, crucial for securing the shift from magnetic stripe to chip payments. EMV uses RSA and 3DES cryptography across issuers, acquirers, and certification authorities. Three authentication methods are outlined: Static (SDA), Dynamic (DDA), and Combined (CDA), with DDA/CDA providing stronger fraud protection. Issuers work with CAs to exchange keys and certificates, while Hardware Security Modules (HSMs) enforce secure generation, storage, and usage under “dual control” procedures. Keys are distributed through strict ceremonies and zone-based encryption. Effective management ensures secure personalization, PIN handling, and resilience against cloning.

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