Why Your Credit Card Is Going 'Chip-and-PIN' | NECN

Why Your Credit Card Is Going 'Chip-and-PIN'

    processing...

    NEWSLETTERS

    Getty Images

    Many Americans have received a new credit or debit card in the mail in with a computer chip on the front. If you're not sure what the chip is all about, you're not alone.

    The new chip-embedded cards is part of a nationwide shift to beef up credit-card security, NBC News reported. The new "smart" chip cards use EMV (which stands for Europay, MasterCard and Visa) technology.

    The chip generates a unique code every time the card is used, unlike the traditional magnetic-strip cards which retain the same code. If a hacker got a hold of that strip information, they could make a physical copy of the card.