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Today, debit and credit cards also use anti-counterfeiting technology. The addition of a microchip that works with a personal identification number (PIN) instead of a signature means the traditional swiping of a card and signing of a receipt is no longer necessary. The microchip securely stores information such as the cardholder’s account number. The goal is to help cut down on counterfeit and lost/stolen card fraud, since the chip is very difficult to duplicate.
ISSN 1927-0275 = Dimensions (Ottawa. Online)