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The popular but precarious signature-based magnetic strip credit card system is on its last legs, globally.
Today, it’s practically obsolete in Europe and the UK following a surge in counterfeit fraud; replaced by what’s deemed to be the more secure EMV chip technology, aka ‘chip and PIN ’.
Formed in February 1999, EMV is the technical specifications group that outlines the interaction between chip cards and terminals to ensure global interoperability, created by Europay International, MasterCard International and Visa International.
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