Mastercard announced the removal of the magnetic stripe

Mastercard has announced that it will gradually remove the magnetic stripe on the cards της στις “περισσότερες αγορές” από το 2024, καθώς οι ανέπαφες continue to increase.

Η said the magnetic stripe will begin to disappear on newly issued Mastercard credit and debit cards in Europe, while banks in the United States will no longer be required to issue magnetic stripe cards from 2027.

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Until 2029, no news or debit card Mastercard will not be issued with a magnetic stripe, except for prepaid cards in the US and Canada. The company expects that none of its credit or debit cards will have a magnetic stripe by 2033.

Mastercard said that this time will be needed for its remaining partners who still rely on of the card with a stripe.

"It's time to fully embrace better technologies that ensure consumers can pay simply, quickly and calmly," said Ajay Bhalla, President of Mastercard Cyber ​​and Intelligence.

"This will be better for consumers and better for everyone in the ecosystem."

The magnetic stripe, according to Mastercard, was originally developed in the early XNUMXs by IBM to allow banks to encode card information and verify customer cards, but since the arrival of chip technology there has been a decline in the use of magnetic stripes.

A survey conducted by Phoenix Consumer Monitor for Mastercard in December revealed that more than half of Americans prefer to use contactless με κάρτα έναντι οποιασδήποτε άλλης μεθόδου πληρωμής. Μόνο το 11% δήλωσε ότι προτιμούσε να magnetic stripe cards.

In March, Mastercard partnered with Samsung Electronics to test a biometric card that uses an embedded fingerprint sensor to authorize transactions on of the company in South Korea.

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Written by giorgos

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