What makes chip technology more secure than magnetic stripe?
The chip is like a mini computer, which gives the card the ability to store and process data securely. Unlike a magnetic stripe, this processing power makes it virtually impossible to copy and reproduce debit cards and card information. Secondly, this processing power is used, together with cryptography (a series of mathematical algorithms), to allow the card and terminal to communicate with one another and carry out security checks to ensure the card is valid. Chip technology is based on a global standard known as EMV, a proven technology currently in wide use around the world.
Related Questions
- Security & Privacy If chip technology is more secure, does that mean payment systems using magnetic stripe technology is not secure?
- Does the move to chip technology mean the current payment system with magnetic stripe technology is not secure?
- What makes chip technology more secure than magnetic stripe?
