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Death to the Mag Stripe?

Transaction World Magazine just published an article by FICO blog author Doug Clare, "EMV: The Gold Standard 'Over There.' Does it Spell Death to the Mag Stripe?" In the article, Doug discusses EMV adoption for cards in Europe and the U.S., and how this standard is superior to the traditional magnetic stripe from a fraud management perspective. Here's an excerpt:

"The rumors of my death have been greatly exaggerated” is a frequently referenced quote attributed to Mark Twain. A bit of exaggeration has also applied to rumors of the death of the much maligned (but thoroughly ubiquitous) mag-stripe. We’ve been expecting, and often wishing, that it would just go away. But the mag-stripe has proven to have nine lives, outliving nearly everyone’s forecasts of its demise. With EMV finally entering the U.S. market, perhaps our faithful friend the mag-stripe is now really entering the twilight years.

Read the full Transaction World article or Doug's previous blog post on this topic, "Chip and PIN in the US?"

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