![]() Starting in 2024, most new Mastercard credit and debit cards won't be required to have a stripe, with a complete phase-out by 2033. Magstripes are being phased out of credit cards in favor of the more secure chip-based credit and contactless cards, with Mastercard leading the way. ![]() One of the biggest downfalls to magstripe cards is that skimming devices on readers can capture your information, which thieves can then use to create fake new cards. So if you live in Chicago and charge most items in that region, but a charge suddenly pops up from a store in Alabama, that charge may fail to be authenticated. To make more sense of the data being displayed this simple parser can make any USB credit card reader user friendly. Sometimes your card may be declined when traveling, as authentication may be based on location. decoded data dumped from a magnetic stripe on the back of a credit card may be a little confusing to the average user. Gas pumps often require inputting your ZIP code, for example, while online purchases may require a password or a code sent to your cellphone. There are several types of authentication being used. A Citi website says more information on the card will be forthcoming. Once you successfully swipe your card, your potential purchase is authenticated to help ensure it's really you who is using your card, not someone else. For example, Citi has tested a product called the 2G card, which features a programmable magnetic stripe and allows users to pay either with standard credit or rewards points by pushing a button on the card that changes information on the stripe.
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