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From second semester 2023 and as part of a process of digitization, modernization and more security for account holders with Credit cards and debitsome of these plastics will begin to disappear, so that from 2024 they no longer exist. Here we detail which ones disappearthe reason why they can no longer be used from next year and in which places.
When they began to use cards of debit and credit Flatbed printing machines were used to record card information on carbon paper packets, and the sound of the handle sliding earned them the name zip-zap machines. Then in the 1960s came the magnetic stripe that allowed banks to encode the information on the plastic, to later pave the way to electronic payment terminals and chip cards to offer more security to the client.
For years, the cards of debit and credit with magnetic stripe have been maintained, but now that technology has evolved, the company mastercard was the first bank to announce that all its bank plastics with this element will begin to disappear in 2023, with which it will gradually begin to eliminate them to replace them with other types of more modern bank cards that are safer for its customers. The ad was made since 2021 and you can see it by clicking HERE.
LIST of cards that will be REPLACED and why
The first thing you have to know is that only the debit cards and credit that disappear are those that have magnetic stripe; in fact, surely if you have a new one, it is most likely that it no longer includes this element, but a chip to enter your PIN and make your purchases, without the need for you to sign anything. The measure began in regions such as Europe, but has been spreading to others in the world such as America.
The news bank cards that replace from 2023 to those of magnetic stripe they use biometric data, such as fingerprints, in order to provide greater security, and the use of plastics with a chip and pin are those that have already come to replace the first ones:
“Chip cards run on microprocessors that are much more capable and secure, and many are also embedded with tiny antennae that enable contactless transactions, while biometrics, which combine fingerprints with chips to verify cardholder identity , offer another layer of security.”, as Mastercard detailed when it announced the measure to eliminate plastic with magnetic stripe.
In the very particular case of Mastercard, by 2029 bank plastics with a magnetic stripe will no longer be issued, so by this date there will no longer be a single copy of this type (except for prepaid ones in the United States and Canada). However, this measure announced by the bank in 2021 is already being emulated by other banking institutions that have also begun to replace their debit cards and credit of magnetic stripe for those with chips.