08-29-2018, 03:37 PM
EMV cards add a layer of encrypted security at card -present point of use.
That old magnetic stripe had/had unchanging data that is fairly easy to read and retain for fraudulent purposes.
There is no added fraud protection when the card is used.
Soon cards will no longer retain the magnetic stripe for late chip adoption purposes.
So yes, they are more secure but only address one method of fraud.
That old magnetic stripe had/had unchanging data that is fairly easy to read and retain for fraudulent purposes.
There is no added fraud protection when the card is used
Soon cards will no longer retain the magnetic stripe for late chip adoption purposes.
So yes, they are more secure but only address one method of fraud.