Mastercard announced that all of its debit and credit cards will lose the iconic magnetic stripe starting in 2024. Various advancements in payment technology have made the magnetic stripe unnecessary.

NEW YORK--(BUSINESS WIRE)--SmartMetric, Inc. (OTCQB: SMME): Mastercard has announced that by 2024 card issuers will no longer be required to use magnetic stripes on their credit and debit cards.

If you have a credit card issued by Mastercard, you will get a replacement card in the next few years. The company says it is removing the magnetic stripe on the back of cards containing payment ...

NEW YORK (AP) – A big change is happening inside your wallet. U.S. banks, tired of spending billions each year to pay back fleeced consumers, are in the process of replacing tens of millions of old ...

Prolonged exposure to magnets can affect the functionality of your credit card. Cards with magnetic strips can also become demagnetized due to dirt, scratches and other damage. EMV chip technology has ...

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. An early 1960s innovation largely credited to IBM, the ...

EAST, the European ATM Security Team, has recently released European ATM crime statistics for the period January to June 2010. The figures show a 24% increase in card skimming attacks at European ATMs ...

Abstract: A novel bridge device and accompanying methodology which link the world of the smart cards to that of the magnetic finance cards is described. This bridge device is called the Magnetic ...

The Food and Nutrition Service, which administers Women, Infants and Children benefits for the federal government, plans to test two magnetic stripe programs in its search for a more efficient ...