A recent USA Today article has reinforced the widely held view that card transactions in the United States are outdated and unsafe. The United States is the only developed country still accepting credit and debit cards with black magnetic stripes. Developed in 1960 by IBM for security systems, this payment method was replaced long ago in countries like the UK by safer technology such as Chip and Pin.

The problem with mag stripes is that they contain all of the information needed to commit fruadulent activities if placed in the wrong hands. Chip and Pin technology on the other hand acts as a “safe” for customers’ card details. Because the important information is hidden, the cards can’t be replicated.

A recent USA Today article has reinforced the widely held view that card transactions in the United States are outdated and unsafe. The United States is the only developed country still accepting credit and debit cards with black magnetic stripes. Developed in 1960 by IBM for security systems, this payment method was replaced long ago in countries like the UK by safer technology such as Chip and Pin.

The problem with mag stripes is that they contain all of the information needed to commit fruadulent activities if placed in the wrong hands. Chip and Pin technology on the other hand acts as a “safe” for customers’ card details. Because the important information is hidden, the cards can’t be replicated.