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Difference between magnetic stripe and chip cards

This article will explain the difference between the bank magnetic stripe cards and chip cards. We often hear the case that bank magnetic stripe card was fraudulent, why these cases occur? Does IC chip card more secure than magnetic strip card? What are the differences of them?

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Now the bank cards we used are basically magnetic stripe cards, magnetic stripe cards are low cost, low security performance, and easy degaussing. Criminals usually see you entering your password through the surveillance cameras that installed in the above of ATMs, and steal your passwords. The device used to steal customers' credit card information, which has a head, can read the card information when insert thecard. The bank card copying devices and even the password stealing equipments are still a lot of available on the market, such as card readers and other equipment on the Internet or an electronic market can easily buy. It would appear that the bank magnetic stripe card was fraudulent cases occur frequently is not surprising. For this matter, Most of Banks have already cancelled the magnetic stripe card, and fully apply the financial IC card.

The financial IC card, is what we often say that a chip card. Compared to chip card and magnetic stripe card, which one is better? Simply put, the chip card is an upgraded version of magnetic stripe card, chip cards large capacity (160 times the storage capacity of magnetic stripe cards) can store keys, digital certificates, fingerprints and other information, there is a card reader protection function to protect data encryption, and take personal password, card and card reader mutual authentication in the use of the card. It is extremely difficult to copya chip card, because the chip cards have strong anti-attack capability. Stability of the financial IC card is also stronger than the magnetic stripe card, the situation of degaussing does not appear.

Of course, in addition to the chip card and magnetic stripe card functional difference, the price is also different. Chip cards cost much higher than magnetic stripe cards. But such costs can exchange high-performance, high-security bank cards.

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Syncotek is one China card reader manufacturer,  with the constantly study and research, Syncotek has developed seven serials of exquisite and innovative products: IC & RIFD card reader writer, RFID readers, thermal printers. Start you business and wholesale now!
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