Friday, 24 March, 2023

Mastercard  to phase out magnetic stripe on payment cards

<p>Mastercard has announced that it will slowly discontinue the magnet stripe on its cards in most of the markets. Newly-issued bank cards will no longer have the magnetic stripe in Europe, While the US banks will not be required to issue magnetic striped cards by 2027. With contactless and chip payments on the rise, Mastercard expects that none of its cards will have a magnetic stripe by 2033.<br /> <br /> <br /> &nbsp;</p>