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Finance News

Tech Trends: This Is How New Tech Is Dramatically Cutting Down Credit Card Fraud

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Matt Cardy
Automatic TRANSCRIPT This transcript was automatically generated by AudioBurst technologies

I'm gift and this is Tech Trends many Banks are now adopting the smart card technology that has been in place in Europe since about nineteen ninety-two that's taken that long to get around two in the problem is that uses different technology then beast White on the magnetic strip that you've got on the back but that is changing by the end of this year most of the credit card you have should've been replaced with one that has an electronic chipped in and the way you buy things isn't going to change that much either you insert to card into a reader it holds the cart until you enter your pin number or your signature now there's always going to be some intra present people out there look into Richview off in France their credit card fraud was cut by more than eighty percent since the chips of introduction back in nineteen ninety-two we're a little minded signs of over catching up their young that's Tech Trends today good luck on this the record about Seventy seven WABC.