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ELI5 Credit Card Security - is a chip really safer than a magstripe? episode artwork

EPISODE · Feb 21, 2020 · 12 MIN

ELI5 Credit Card Security - is a chip really safer than a magstripe?

from ELI5 Explain Like I'm 5: Bite sized answers to stuff you should know about - in a mini podcast · host ELI5 Explain Like I'm Five Podcast

Why are the new chip and pin credit cards safer than the magnetic stripe, especially when most cards still have both? How is the 3 digit security code useful? What is credit card skimming and how does it work? Why does American Express have a different security code format to Visa and MasterCard?   ... We explain like i'm five!   Thank you to Empower, the sponsor of today's episode. For more info about Empower, visit: empower.me/ELI5   Help more people fund us by leaving a rating on iTunes.   Thank you to the r/explainlikeimfive community as always and in particular the following users whose questions and comments formed the basis of this discussion: cleanaxe, hecre8ivewon, bringer_of_words, tehwildman, theapiary, longtimegonemtgo, ddacke, benthevining & wwwyzzrd. To the ELI5 community that has supported us so far, thanks for all your feedback and comments. Join us on Twitter: https://www.twitter.com/eli5ThePodcast/ or send us an e-mail: [email protected]

Episode metadata supplied by the publisher feed · Published Feb 21, 2020

What this episode covers

Why are the new chip and pin credit cards safer than the magnetic stripe, especially when most cards still have both? How is the 3 digit security code useful? What is credit card skimming and how does it work? Why does American Express have a different security code format to Visa and MasterCard?   ... We explain like i'm five!   Thank you to Empower, the sponsor of today's episode. For more info about Empower, visit: empower.me/ELI5   Help more people fund us by leaving a rating on iTunes.   Thank you to the r/explainlikeimfive community as always and in particular the following users whose questions and comments formed the basis of this discussion: cleanaxe, hecre8ivewon, bringer_of_words, tehwildman, theapiary, longtimegonemtgo, ddacke, benthevining & wwwyzzrd. To the ELI5 community that has supported us so far, thanks for all your feedback and comments. Join us on Twitter: https://www.twitter.com/eli5ThePodcast/ or send us an e-mail: [email protected]

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ELI5 Credit Card Security - is a chip really safer than a magstripe?

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This episode is 12 minutes long.

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This episode was published on February 21, 2020.

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Why are the new chip and pin credit cards safer than the magnetic stripe, especially when most cards still have both? How is the 3 digit security code useful? What is credit card skimming and how does it work? Why does American Express have a...

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