Atm card magnetic strip

Debit and credit card holders have just one more day left before their magnetic-strip magstripe cards are permanently blocked from January 1. Once the December deadline ends, all private as well as public banks, in line with the RBI mandate , will deactivate all magstripe credit and debit cards from January 1, Over the past over a year, several banks have taken measures to upgrade these magnetic strip cards to EMV cards for free, but still, there are many customers who have not upgraded debit and credit cards to EMV cards. There's another type of card, Contact-less NFC card, which is read by keeping it near the card reader. The bank might levy a late fine from customers who apply for new debit cards on or after January 1,

A magnetic stripe card is a type of pass that permits the user to complete electronic transactions or access a locked physical space. The "stripe" contains embedded information that identifies its user. However, magnetic stripe cards now are being phased out and replaced by more secure microchip technology. From the user's viewpoint, it's the difference between a "swipe" and a "dip. The cards are usually about 2 inches by 3 inches and made of plastic or durable paper. A stripe on the back contains the data embedded in iron particles in plastic film.

Back to Previous. Most of us never gave much thought to the black strip on the back of our credit cards. Banks, credit card networks and security experts praised the safer chip card technology. Still, there was—and still is—resistance to change.

Through a tweet, the SBI said that it has proposed to deactivate all old magnetic strip-based cards by December 31, , irrespective of the card's validity period. Safeguard yourself with guaranteed authenticity, greater security for online payments and added security against fraud,'' the bank said in a tweet. Safeguard yourself with guaranteed authenticity, greater security for online payments and added security against fraud. The SBI has also urged its customers and cardholders to replace the old magnetic strip-based credit and debit cards with high-security EMV Chip-based cards.