The U.S. is switching to a chip-based payment system called EMV. EMV is harder to counterfeit, and unlike magnetic stripes, it can’t be easily read and duplicated. The chip-enabled credit and debit cards still have the magnetic stripe, so merchants can continue to process payments the old-fashioned way. The switchover is not law or regulation, but it’s a decision that the credit card processors imposed on their member banks and the merchants who accept their cards.”]
Source: https://www.csoonline.com/article/2988852/emv-deadline-fraud-time-bomb-is-ticking.html