News @andrew_andrew__ Aug 17, 2021, 11:35 am EDT | 1 min read MastercardBeginning in 2024, Mastercard will no longer require European banks to issue credit or debit cards with a magnetic stripe. The same will happen in the U.S. in 2027, as Mastercard hopes to kill off the magnetic stripe by 2033. Mastercard will be the first payment network to ditch the magnetic stripe, though its competitors are sure to follow suit. The company’s reason for ditching magnetic stripes is pretty simple; the technology is less secure than newer chip card and NFC systems. First introduced in the 1960s, magnetic stripe cards are actually very low-tech. They… Click below to read the full story from How To Geek
Read More
Your Next Mastercard May Not Have a Magnetic Stripe
