Thanks to large campaigns by banks and other companies, today millions of people around the world use credit and debit cards for various financial operations.
However, as the use of bank cards increased, the crimes committed with them also increased, such as fraud and theft of personal dataHence, there are many financial institutions that have implemented various security mechanisms for their account holders.
Under this context, Mastercard announced that, from 2024 and until 2033, it would be replacing all its credit and debit cards that have the magnetic stripe with an electronic chip..
The purpose of what was announced by the financial institution in 2021 is, according to what the company referred to, to give greater security and privacy to its millions of customers when they carry out different transactions.
The foregoing taking into account that these electronic chips will contain the information of the bank card holder, and these will be the ones that generate a unique code, which must be authorized by the bank, and with it corroborate the authentic origin of the bank card behind.
Now, taking all of the above into account, we will tell you immediately which Mastercard cards will no longer be accepted as of 2033, that is, when the replacement process of the card is finished. magnetic stripe:
- Standard credit and debit card
- Gold credit and debit card
- Platinum credit and debit card
- World elite credit and debit card
On the other hand, in case VISA decide to follow the same steps as Mastercard, the following would be the credit and debit cards that would no longer be accepted:
Credit cards
- Classic Visa Credit
- Visa Platinum Credit
- Visa Signature Credit
- Visa Infinite Credit
- Visa Gold Credit
Debit cards
- Visa Classic Debit
- Visa Platinum Debit
- Visa Signature Debit
- Visa Infinite Debit
- Visa Gold Debit
All in all, it must be made clear that, up to now, only Mastercard has made known its plans regarding the replacement of its old bank cards.
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