EMV, also known as “Chip and PIN”, is the leading system for card payments world- wide. It is used throughout Europe and much of Asia, and is starting to be introduced in North America too. Payment cards contain a chip so they can execute an authentication protocol. This protocol requires point-of-sale (POS) terminals or ATMs to generate a nonce, called the unpredictable number, for each transaction to ensure it is fresh. The authors have discovered that some EMV implementers have merely used counters, timestamps or home-grown algorithms to supply this number. This exposes them to a “pre-play” attack which is indistinguishable from card cloning from the standpoint of the logs available to the card-issuing bank, and can be carried out even if it is impossible to clone a card physically (in the sense of extracting the key material and loading it into another card).
You can download it from the following link: https://packetstormsecurity.com/files/download/116460/unattack.pdf
Source: https://packetstormsecurity.com/files/116460/Chip-And-Skim-Cloning-EMV-Cards-With-The-Pre-Play-Attack.html