Chip Technology

Mature businessman is paying bill with his credit card in coffee shop.

28 May: Chip Card Readers in 2019: Everything You Need to Know

By now, you’re used to the magnetic stripe on the back of your credit cards. You might even still use it from time to time. However, the use of strips on cards is becoming less common. For nearly five years now, credit card companies have been making the switch from magnetic stripe to chip cards. Why the change? Data security. With so many different forms of payments nowadays, it’s hard to keep track of all your cards and digital wallets and payment apps, and fraudsters abound. Luckily, the chip card uses encrypted data to keep your bank information safe when paying with credit cards. Each time you make a payment, the POS terminal will prompt you to insert your card. The chip card reader gathers the data internally, rather than through…