The traditional credit card is a great tool for making purchasing easy for both the retailer and the customer. But in this drive to be simple, there have been questions about the security of the system. In Europe, more transactions are being placed with the use of smart cards. And with all of their advantages, this might be something that the United States should begin to consider.
What is a Smart Card?
A smart card looks just like a regular credit card, but instead of the magnetic strip on the back of a piece of plastic, it has a tiny microprocessor underneath a gold contact pad. Its a small computer that stores all of the information that a retailer might need.
This microprocessor allows the main computer host to talk with the card to get the information that it needs. And unlike the traditional magnetic strip, its much more difficult to remove or steal information from a smart card. Many thieves can actually buy cheap equipment and get information from the magnetic strip on a regular credit card, but not with a smart card.
How is this safer?
Because your information can not be gathered from a smart card without your authorization,...
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