Photo by Sean MacEntee/Flickr
The US is in the midst of a major financial transition: swapping out our old-fashioned magnetic strip credit cards for ones equipped with a security chip. Card issuers have said chip-enabled cards provide much better protection against fraud than traditional magnetic strip credit cards. But…how? What makes the new cards superior and how can it protect you from getting scammed?"The first thing is the existence of the chip itself makes the card extremely hard to counterfeit," Doug Johnson, a payments and cybersecurity expert at the American Bankers Association, explained in a phone call. Advertisem*nt
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