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That’s just a bit on the mag strip that encodes if your card has a chip present. You can flip it with a writer and use the magnet strip again if you want. It’
by paulgerhardt 5y ago
That’s just a bit on the mag strip that encodes if your card has a chip present.
You can flip it with a writer and use the magnet strip again if you want.
It’s quicker as one doesn’t have to wait for the Javacard OS on the chip to boot up and handshake. (Ie swipe and walk away vs insert, wait 4 seconds, remove).
Wouldn’t do this on my debit card but it’s fine on credit cards with chargeback protection.
- the_mitsuhiko 5y agoInteresting. That said, no desire to do this. I do effectively 100% of my transactions by watch now and that beats any alternative.
- Symbiote 5y agoIsn't that going to lead to the transaction being denied, either by the bank (which knows there's a chip), or even the reader (does it know that all cards beginning WXYZ have chips, for example?)?
- daveoc64 5y agoThat is what should happen, but not all banks implement every fraud countermeasure.