Mastercard is the first payments network to phase out the magnetic strip on credit cards. Once magnetic strip was innovative. Flatbed imprinting machines recorded the card information on carbon paper ...

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. An early 1960s innovation largely credited to IBM, the ...

Prolonged exposure to magnets can affect the functionality of your credit card. Cards with magnetic strips can also become demagnetized due to dirt, scratches and other damage. EMV chip technology has ...

Mastercard announced that all of its debit and credit cards will lose the iconic magnetic stripe starting in 2024. Various advancements in payment technology have made the magnetic stripe unnecessary.

Shelby Brown (she/her/hers) is an editor for CNET's services team. She covers tips and tricks for apps, operating systems and devices, as well as mobile gaming and Apple Arcade news. Shelby also ...

I was recently gifted a charming, kitschy magnet, and as I tucked it into my wallet for safekeeping, I couldn't seem to remember: Do magnets spell doom for credit cards? Many of us have held onto ...

Mastercard plans to phase out magnetic strips on credit and debit cards by 2033 due to the rise of other payment technologies, something that could change the appearance of the physical Apple Card.