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Tech Oct 2015 - "Technology: Ready or Not, Microchip Card Payment is Here to Stay"

Tech Oct 2015 - "Technology: Ready or Not, Microchip Card Payment is Here to Stay"

Tech Oct 2015 - "Technology: Ready or Not, Microchip Card Payment is Here to Stay"

Excerpt


Technology: Ready or Not, Microchip Card Payment is Here to Stay



If you travel internationally for business or pleasure, you may already know that magnetic strip credit cards are consider something of an anachronism in many other countries. Offering a magnetic strip card when making a purchase in Europe or Canada frequently requires the business owner to take your card and input the data manually, or revert to older technology to process the transaction. The “new” EMV (Europay, MasterCard and Visa) microchip system has been in place for years elsewhere, and as of Oct. 1, major card companies want to make it the standard here.


 


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