EMV stands for Europay, MasterCard and Visa. They aim to create standardized protocols for integrated circuit cards and also the hardware that is needed in order to accept these cards.
EMV cards have a small circuit or a chip that is built into the card. The data is then read from the chip instead of from the magnetic strip. These chips are then able to protect against fraud in two ways.
The chip is difficult and also expensive to copy and the data which is transmitted changes each time the card is read.
EMV chip cards are being rolled out through the world, which means that you may need to get a credit card terminal that is able to accept these cards.
However, right now the only ones that should think about getting an EMV credit card terminal are those that need a new a terminal. The fact is that the technology behind these will only improve. If you are though already seeing a large number of chip cards then you should probably consider getting the terminal.
Chip cards are able to protect you from fraud, so the price of the new terminal will give you the peace of mind that you may want. It is unlikely that someone will present you with a counterfeit chip card, but is it worth taking that chance and losing a little cash and never having to worry?
You should though defiantly consider getting an EMV chip card terminal in late 2015 though as more and more banks will be rolling out these cards. This means that more people will have them and you will want to be able to accept their business without having to worry about fraud.