What most people find hard to believe is that USA, and India, two of the most technological advanced countries (well, it could be tough believing that for India if you have been there) still use magstripe cards. Magstripes are unsafe (easy to clone and super error prone) and so yesterday that I wouldn’t be surprised if Moses paid for things with that in the desert.
Finally, heavens intervened. Visa and MasterCard, in USA, are migrating their credit cards to EMV standards by April 2013 (Fish, Chip and PIN). Now that counts for something as most Americans prefer credit cards (easy money) and there are more of that circulating around than debit and prepaid cards.
So good bye to card clone frauds. But trust those boys, they are coming out with something else soon 🙁
