> the chip used to contain all the information present on the magstripe
Not all of it - the chip has a dynamic CVV that differs from the one on the magstripe. This only works if the bank isn't checking CVVs.
Not all of it - the chip has a dynamic CVV that differs from the one on the magstripe. This only works if the bank isn't checking CVVs.
Source please? Because if you're right, my bank lied to me when they said they couldn't see whether I paid by chip or by magstripe.
Source: 25 years of EFT development on Bank transaction systems.