Eli5: How is a debit chip or tap to pay anymore secure than a mag strip with the same data on it?
In: 118
It’s not the same data.
A mag stip is just data storage – everything it knows, it will show you.
The chip doesn’t expose everything it knows to the payment terminal. The terminal “asks” it to authorize a transaction, and the chip “answers” based on the question. What gets asked is different every time, and hence the answer is also always different. Therefore, capturing a single answer from a chip is useless since it will never be the same twice.
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