Have you ever been unable to use your credit card abroad because it uses magnetic strip technology, instead of the increasingly popular embedded microprocessor chips? Outside of the U.S., this technology is gaining traction, but has led to headaches for Americans who lack cards with these chips.
However, there may be some good news on the horizon for Americans, as a few banks have begun testing cards with the newer chip technology, known as E.M.V. (for Europay, MasterCard and Visa) and are beginning to offer the cards to select customers.
Read more here.
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