Visa’s New Chip Outsmarts Crooks
April 21, 2006
Visa and Mastercard has been using a new credit card technology for the last five years in other parts of the world outside the US with excellent results. Those results being that no fraudulent activity has been non-existent on those cards.
The credit card has no magnet strip but it does have a chip onboard. When used you put in a four digit code just like debit cards instead of signing for your purchases. If a thief gets hold of your card and has it copied to a fake credit card, it won’t work.
The chip can also hold a lot more information than the regular strips on credit cards. This new card will be a great deterent in fraud because criminals cannot use the card unless they have your pin number.
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