At last, Credit cards for people in USA will come with better security.
It took more than 10 years for this to happen in USA. Hey, better late than never.
SNIPPET:
The chip makes it nearly impossible for a thief to duplicate the information on a swiped card and use it. However you’re still at risk anywhere you submit your credit card information into a form. Chip-and-PIN protects you in-store, but not online.
Every single credit card as well as every card-reader machine at retailers has to be replaced. But the added security benefits may prove worthwhile.
Chip-and-PIN is a good start, but it is certainly not a standalone solution to financial fraud.
The links below has more details:
http://www.phoenixts.com/blog/why-mastercard-visa-want-chip-and-pin-credit-cards
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