Canada is getting ahead of the game in regard to credit cards security. A new credit card is currently being tested to protect people from credit card and debit fraud.
The new credit card is called chip card. It is called chip card because it has a microchip and the information is encrypted. These two security features will make it impossible to copy the information on the card by swiping the magnetic stripe. Furthermore, users will have to enter a pin number rather than using a signature.
The card will still have a magnetic stripe to enable users to still use the card in places where the chip can not be used. However, the card main security is the chip. The chip will allow people to scan the cards rather than swiping them and input a pin rather than a signature. Moreover, the information will be encrypted. The latter is very important because the information on the credit cards and debit cards are mostly stolen in stores or places where crooks have tampered with the magnetic stripes on the credit card readers.
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