Released: September 10, 2011

U.S. gets chance to catch up on credit card security

Source: Peter Svensson, The Associated Press

The next time you swipe your credit card at check-out, consider this: It's a ritual the rest of the world deems outdated and unsafe. The United States is the only developed country still hanging on to credit and debit cards with those black magnetic stripes, the kind you swipe through retail terminals. The rest of the industrialized world has switched —or is in the process of switching— to "smart" chip-based cards.

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