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They will also be able to display your balance, while also doubling as a reward card, it is promised. As companies try to tackle rising fraud, the card will only display personal information after a security code has been entered. Investor Forrest Parry could not get the strip to stick to the back of the card without damaging the data.
A few years ago, Europe moved to chip-enabled cards allowing the user to input a pin number to pay for goods. The first magnetic strip, or stripe, was invented by IBM in 1960 for the U. The story goes, he went home one night with several plastic cards and several magnetic strips.
In France, for example, credit card fraud fell a massive 80 per cent following its introduction. But a small group of credit card makers are determined to change the way Americans spend their cash.
Citibank released the new 2G card, which has a programmable magnetic strip and buttons on the front for users to choose to use it as a credit card or to spend reward points.
When you date people you meet, other then at a matching making service, you spend lots of time and resources, become emotionally attached, only to find out many dates later, you shared hardly anything in common.