Timeline for Do credit cards which utilize an embedded chip but also have a magnetic strip, still benefit from the added security of the chip?
Current License: CC BY-SA 3.0
5 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Jul 1, 2017 at 1:11 | comment | added | Netside | I think grochmal's comment answers my question with a solid "Yes", but correct me if I am wrong (and I know this is an outdated, marked as duplicate post - although it isn't a duplicate IMHO, since a search may miss the posts suggested answer this one because of the title, etc.). The magnetic strip is obviously a security hazard, and not as secure as the chip (like if the card only had the chip but no traditional magnetic strip, it would be more secure). | |
| Jan 9, 2017 at 4:55 | comment | added | Netside | Also, some things cannot read chips, such as smartphone credit card readers (Square/Stripe, etc.), and it seems a chip isn't required in those cases even for cards that have both strip/chip. This is what originally prompted my question. | |
| Sep 10, 2016 at 1:13 | comment | added | grochmal | Yes, that's a good summary. But note that you can still exploit it: a fraudster with a stolen card will tkinter with the chip to render it unusable; a terminal will notice a "broken" chip and ask the merchant for a fallback transaction with the magnetic stripe. | |
| Sep 10, 2016 at 0:48 | review | First posts | |||
| Sep 10, 2016 at 1:17 | |||||
| Sep 10, 2016 at 0:46 | history | answered | user123952 | CC BY-SA 3.0 |