Mastercard to End Magnetic Strip on Cards

upnorth

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Jul 27, 2015
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Mastercard is to stop issuing cards with a magnetic strip.

By 2033, none of its debit or credit cards will have a strip, with banks in many regions including Europe able to issue the strip-less cards from 2024. The UK moved to chip-and-pin for all card payments in 2006, but in the US, some magnetic strip systems are still in use. Mastercard says chip-and-pin and new biometric cards that use fingerprints, offer greater security. The firm claims to be the first payment network to phase out the technology. A spokesperson told the BBC the level of global acceptance of chip-and-pin was such that the time was right to begin phasing out the magnetic strip. The slow phasing out is to leave what the firm calls a "long runway" for companies accepting payments to move to chip-and-pin.
 

Local Host

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i'm in EU, so I don't remember the last time I saw anyone using the strip.

99% of the people here, are already using contactless payments, which is already the next step beyond the chip-n-pin the USA hasn't been able to enforce yet lol.
 

rsonic

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Jul 25, 2018
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Wait, so how else do you pay strippers? I know that they have the slide reader, but I don't think they have the chip reader; then again it's been a long time since I visited that type of gentleman's club?
QR Code payments, bro.