Cards equipped with chips will become the new standard. The chip is more secure compared to a magnetic stripe because it creates a unique transaction code, which is verified by the bank.

Mastercard said that from 2024, Mastercard credit and debit cards will not be required to have a strip “in most markets” and will be completely phased out by 2033.

Those smartcards made up 90.7 percent of the total EMV cards in use and composed 99.7 percent of all transactions in Europe during the same period, compared with 93.2 percent and 99.4 percent ...

Mastercard is phasing out the magnetic on the back of the credit card. Image: Mastercard Contactless payments are the future, and it’s about time that banks and credit card companies get on board.

Although chip-and-PIN cards are an improvement to magnetic strip cards when it comes to exposure to fraud, your information isn’t 100 percent secure. Chip cards can still be skimmed — or ...

Based on the decline in payments powered by magnetic stripes after chip-based payments took hold, newly issued Mastercard credit and debit cards will not be required to have a stripe starting in ...

After October 1, 2015, retailers may continue to use the old magnetic strip technology but will be subject to the new liability-shifting rules.

Cards equipped with chips will become the new standard. The chip is more secure compared to a magnetic stripe because it creates a unique transaction code, which is verified by the bank.

Those smartcards made up 90.7 percent of the total EMV cards in use and composed 99.7 percent of all transactions in Europe during the same period, compared with 93.2 percent and 99.4 percent ...

Although chip-and-PIN cards are an improvement to magnetic strip cards when it comes to exposure to fraud, your information isn’t 100 percent secure. Chip cards can still be skimmed — or ...