Mastercard is phasing out magnetic stripes on its cards starting in 2024
The Verge
AUGUST 17, 2021
Mastercard is phasing out the use of magnetic stripes on its credit and debit cards over the next decade, as the industry moves towards more secure or convenient alternatives like chips and contactless payments, the company has announced. Nowadays, 86 percent of in-person card transactions globally use EMV chips.
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