Tools like arqc-gen.exe replicate the complex multi-step process defined by EMVCo standards : Online EMV Card payment tools - neaPay
The tool is an executable application designed to simulate or calculate EMV cryptograms. While in a live transaction, the ARQC is generated exclusively by the secure chip inside a physical payment card, developers and security researchers use "ARQC generators" to: arqc-gen.exe
Understanding arqc-gen.exe: A Deep Dive into EMV Cryptogram Tools Tools like arqc-gen