Credit and debit cards to go high tech

Digital technology is putting the power of a computer onto credit and debit cards to help cut down on fraud.

Cards are being embedded with a microchip, or a tiny computer. That means the traditional swiping of a credit or debit card and signing a credit card slip won’t be necessary.

Visa Canada, MasterCard Canada Inc. and Interac Association are moving to bring Canada in line with card technology that’s already in use in much of Europe and parts of Asia and Latin America.

“The key driver for this is really on the security side,” said Michael Stephenson, Visa’s senior business manager of the chip initiative. (link)

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