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> the chip used to contain all the information present on the magstripe Not all of it - the chip has a dynamic CVV that differs from the one on the magstripe.
by djrogers 10y ago
> the chip used to contain all the information present on the magstripe
Not all of it - the chip has a dynamic CVV that differs from the one on the magstripe. This only works if the bank isn't checking CVVs.
- lucb1e 10y ago> This only works if the bank isn't checking CVVs. Source please? Because if you're right, my bank lied to me when they said they couldn't see whether I paid by chip or by magstripe.
- redbluff 10y agoYour Bank is lying, or more correctly has either poorly trained front end staff or a rubbish interface to their EFT system. Source: 25 years of EFT development on Bank transaction systems.
- feld 10y agoThey have to know for fraud investigation. I believe it's also why many companies can't upgrade: they need a new POS that can log the transaction as stripe, chip or NFC/Apple aPay