What Is a Chip Card?
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A chip card is a standard-size plastic debit or credit card that contains an embedded microchip as well as a traditional magnetic stripe. The chip encrypts information to increase data security when making transactions at stores, terminals, or automated teller machines (ATMs). A chip card, also known as a smart card or EMV card, is a plastic card with an embedded microchip. This chip stores and processes information, making it more secure than traditional magnetic stripe cards. How it Works: Insertion: The card is inserted into a chip-enabled card reader. Communication: The chip communicates with the reader, securely transmitting transaction data. Encryption: The chip encrypts the data, making it difficult for hackers to intercept and steal. Authentication: The card is authenticated by the system. Transaction: The transaction is processed and completed. Benefits of Chip Cards: Enhanced Security: Chip cards offer a higher level of security compared to magnetic stripe cards...