Payment Cards Finally Set to Lose Their Stripes

This Data Breach alert was published at 24.08.2021 14.28 on Data Breach Today.

Mastercard Announces Timeline for Phasing Out Magnetic Stripes. What Took So Long?
Mastercard says that starting in 2024, banks and other institutions that issue its credit and debit cards will no longer need to include a magnetic stripe on the back, and that by 2033, magnetic stripes will be extinct. Given magnetic stripes’ many security downsides, what’s taken so long?

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