![]() Access to this equipment removed the “security through obscurity” protection as people were able to access the internal design architecture and replicate it. But, over time, the equipment needed to read and write these stripes and have access to the payment data became too easy. It relies on “security through obscurity,” which means it keeps your payment data safe by keeping its internal design architecture confidential. ![]() For a while, this method was secure and inexpensive-as well as fast when checking out. Before we dig into EMV let’s explore how magnetic stripe cards work.Ī magnetic stripe card stores the digital data needed to make payments. The “chip-and-PIN” replacement called EMV (Europay, Mastercard and Visa) happened for two main reason: it’s more secure and the major credit card companies transferred the liability of fraud from their companies to business owners who don’t have EMV. from swiping cards to inserting cards in a POS system. One thing you may have spotted in 2015 was the shift in the U.S. The world of payments can be complex, and we usually only glimpse the top level of it.
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