Chip and pin credit and debit cards are fast replacing the traditional cards which utilised a card’s magnetic strip.
Rather than making purchases by swiping a card’s magnetic strip, customers will now make purchases using a microchip that’s been embedded into the new card’s design. You’ve likely already started receiving new credit and debit cards with these embedded chips as well as the traditional magnetic strip, as some retailers have yet to convert their card readers to the latest technology.
The whole point of the chip and pin credit and debit cards is to provide increased security of your data so that it can’t easily be stolen. This translates to more secure transactions in stores and at ATMs, as the chip holds encrypted information.
But chip and pin cards have also changed the transportation and travel industry.
A new evolution in payment methods for public transportation
When it comes to paying for public transportation, payment methods have evolved over the years, and it almost seems as if the moment you become familiar with, and comfortable with, the latest payment method, a new one has emerged.
First, it involved purchasing transportation fare with cash, but when that was too inconvenient and too expensive, metal tokens were introduced. Then it was paper tickets, followed by the magnetic strip ticket. Each of these advancements in payment methods was meant to make the process faster, easier, and more secure for everyone.
The introduction of EMV chip cards
The latest incarnation of the payment method that travelers are using to get on public transportation involves the use of EMV chip credit and debit cards. In fact, this is the biggest change when you consider that the magnetic strip card was introduced as the new standard back in the ‘80s.
In order to avoid higher costs and losses from fraud, all merchants and transportation operators throughout the United States are required to make the switch to these new chip cards, which no longer rely upon strips to swipe data, but rather have encrypted data embedded into a chip that can be scanned at the time of a purchase.
Travelers will begin seeing everything from self-service kiosks to ticket vending machines and point-of-sale terminals accepting these new chip cards from now on.
A faster way to pay
The great thing about these new EMV chip cards is the fact that they work quickly. This means that travelers can enjoy a much faster way to pay so they can keep going without stopping when they don’t have any time to spare. In other words, you’ll be able to get to wherever it is that you’re going more efficiently.
For a card reader to grab the encrypted data from your chip card, you’ll either scan the card by quickly inserting it into a card reader or, if you have the even more advanced contactless smart card, it will communicate wirelessly using a radio frequency, which means all you have to do is hold your card near a point-of-sale terminal without having to scan it at all. This provides even more security and efficiency.
A more secure way to be on your way
Because the chips that are featured in the latest EMV cards contain encrypted data, they’re more secure than their older counterparts that featured the magnetic strip on the back of the card. This means that you can rest assured that your data will always be secure whenever and wherever you travel, and regardless of how far you travel. You can easily and quickly purchase your tickets without having to worry about someone you do not know stealing your sensitive information and using it to make fraudulent purchases.
Great news for global travelers
In addition to traveling locally throughout the United States, EMV cards will also become commonplace globally. These cards will allow you to make secure, fast purchases in most of Europe, Asia, and Canada as well. Again, this will give you the peace of mind of knowing that your credit or debit card information can’t easily be stolen any longer.
The transition to chip and pin credit and debit cards will be a smooth one, and consumers will begin using their cards in a whole new way before they know it, if they have not done so already. The promise of increased security, especially with all of the recent data breaches and problems with card numbers being stolen and used fraudulently, should definitely entice people to embrace this new technology.