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How does chip on credit card work ?

By IndianMoney , 8 months ago

The chip contains cardholder's information. Powered by EMV technology, the chip-enabled cards offer an efficient way to store information and provide protection against fraud compared to the traditional magnetic strip-based cards. The chip-based cards are dipped into the swipe machine instead of swiping the magnetic strip until the transaction is processed. In case the merchant terminal is not updated to the chip-based technology, the cards can still be swiped.

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