What shitty system even allows this to happen? It’s not like the microchip in credit cards that allows for secure transactions is particularly expensive.
Small addendum because I looked it up:
Apparently checks aren’t the only ancient aspect of the US banking system. Chip cards have apparently only come around in the past few years, prior they used the insecure magnetic strip cards that can literally just be copied.
Mastercard started removing the magnetic strip from new cards this year in some European countries, and want to completely remove it worldwide by 2029.
In the US, I’ve actually got one card that doesn’t have a magnetic strip: a debit card for Target stores (gives 5% discount for every purchase which is why I have it).
What shitty system even allows this to happen? It’s not like the microchip in credit cards that allows for secure transactions is particularly expensive.
Small addendum because I looked it up:
Apparently checks aren’t the only ancient aspect of the US banking system. Chip cards have apparently only come around in the past few years, prior they used the insecure magnetic strip cards that can literally just be copied.
On some revolut (finance app, popular in ireland) cards the magenetic strip is disabled by default.
Mastercard started removing the magnetic strip from new cards this year in some European countries, and want to completely remove it worldwide by 2029.
In the US, I’ve actually got one card that doesn’t have a magnetic strip: a debit card for Target stores (gives 5% discount for every purchase which is why I have it).