Why a bank card with a chip is more reliable than a magnetic stripe card
Why a bank card with a chip is more reliable than a magnetic stripe card
Modern electronic payment systemis developing very rapidly. Only recently appeared bank cards with a magnetic strip, as already in their place absolutely new cards with a chip come. Despite the fact that the outwardly chip cards are practically the same as usual, they are considered more reliable.
Card with chip
Chip cards are also called smart cards (intranslation - "intellectual"). A smart chip is embedded in the smart card, which stores all information about the cardholder and the state of the account without sending a request to the bank. Chip cards can be debit and credit, contact and non-contact type. To read the information from the contact card, it must be attached to the reader. Contactless cards operate on the principle of transmitting a radio signal.Card with magnetic stripe
At present, magnetic stripe cardsare the most popular all over the world. With their help, you can transfer money to other accounts, pay for utilities, cash out money, pay for purchases and so on. There are three data paths on the magnetic strip. The first contains the last name, first name, patronymic of the cardholder, the second - the card number and its validity, the third one is intended for other information.Why is the card with the chip better?
First of all, the chip card is moresafe, than a card with a magnetic strip, because thanks to a more complex system of protection, it is much more difficult to forge it. In addition, damaging the chip by negligence will also be difficult. Payments through smart cards are much faster than through cards with magnetic stripe. Another one positive thing about chip cards is the ability to work in off-line mode, that is, if you pay in a store such card, unlike cards with a magnetic strip, you do not need a connection from the outlet to the bank. In addition, magnetic strips can easily be scratched and, as a result, damage information entered on them or demagnetize. Since the chip card is a kind of microcomputer, it can perform many functions typical of conventional computers. For example, a card can store information on the identity of the owner; On the map, an area can be allocated for storing classified information encrypted using a cryptographic method. The embedded chip provides a unique identity to the card, which is almost impossible to forge, as the chip manufacturing technologies are not in place, but are becoming more sophisticated and more sophisticated every day. When making any financial transaction from the terminal, the voltage is applied, the chip is activated and, thus, the authenticity of the smart card is determined. The chip guarantees the banks to fulfill all the rules for financial transactions they have established, for example, the need to enter a PIN code during the transaction. Thus, the introduction of cards with a chip maximized the protection of cards from the facts of their forgery and fraud.
