Using credit cards arguably has numerous benefits. The most attractive may simply be this; your cash remains sheltered from the surreptitious pickpocket. For this and other reasons, credit cards are fast becoming, and in many territories have become the primary means of commercial exchange. However, before one hastens to bask in the myth of perceived security, note well that whereas the pickpocket may find no gain in his adventure with the avid card user, there is one who is more cunning in taking advantage of the sometimes hapless credit card holder. You ignore him/ her to your peril.
The card user, to escape his snare, may discover that proficiency in understanding the anatomy of the plastic card can enhance their ability to fortify and reinforce the sheltered asset, and reduce the risk of becoming a victim of the indefatigable credit card fraudster. Let us firstly explore how the credit card works in the digital world and discover whether there may be a new technology on the horizon which may enhance credit card safety.
Credit Cards: The Magnetic Stripe
Each card user must be aware that important information about them is stored at the back of a credit card along the magnetic stripe. The stripe contains information about the cardholder’s account, such as their credit card number, full name, card’s expiration date, and country code. This information is what identifies the cardholder for the purposes of obtaining approval for the transaction.
This information stored on the card is of utmost importance in effecting a transaction and naturally, it is an asset to the cardholder, and a potential nightmare if it gets into the wrong hands.
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