Why are overseas magnetic stripe transactions given the option to be enabled or disabled?
Who can explain to me why we are almost required to enable our cards for overseas magnetic stripe transactions?
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The simple reason is that the magnetic stripe on the Card is easily read and copied, disabling the magnetic stripe for overseas use will help protect customers against fraudulent transactions that could arise due to such fraudulent copying of customer data from the Cards’ magnetic stripes. In addition, the EMV chip is encrypted which virtually eliminates the ability to copy the contents of the chip to another Card.