![]() ![]() ![]() The magnetic stripe on the back of your credit card stores all of your sensitive information about your credit/bank card account. If you aren’t familiar with how credit cards work, here’s a quick lesson. These microchips look very similar to the SIM cards we all have in our mobile phones and are about the same size. The only difference in appearance between traditional magstripe cards and smart cards is smart cards have a microchip embedded on the front left of the card. They are currently transitioning all American consumers’ credit cards to smart cards in order to reduce fraudulent transactions and keep people’s personal financial information more secure.Ī smart card is a credit card which looks and is used in almost the exact same way traditional magstripe cards are used. It looks almost exactly like a traditional credit card terminal or swiper, but it’s specifically designed to read chip cards.Ĭredit card companies have seen the light. A smart card reader is how you swipe, or rather “dip,” to purchase something with an EMV credit card (or chip card).
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