Eli5: How is a debit chip or tap to pay anymore secure than a mag strip with the same data on it?
In: 118
If you use the mag strip you’re required to sign but a study showed that most cashiers don’t even look at the signature never mind compare them.
The chip means you need a code that has 10000 different possible combinations. That’s a lot more secure.
Contactless decreases security for convenience but usually requires you to enter the code periodically or after a certain amount has been spent
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