What information would a merchant obtain from a chip card versus a magnetic stripe card?
With chip cards, merchants do not have access to any other data than what they have today with a magnetic stripe card. The only information that merchants are allowed to store is the basic transaction data, such as the time, date, and purchase amount and debit card number. This basic information is necessary in the event that a cardholder requests a trace. The only information stored from the debit card itself is the debit card number, which alone is not sufficient enough to create a counterfeit card.
With chip cards, merchants do not have access to any other data than what they have today with a magnetic stripe card. The only information that merchants are allowed to store is the basic transaction data found on a receipt, such as the time, date, purchase amount and debit card number. This basic information is necessary in the event that a cardholder requests a trace. The only information stored from the debit card itself is the debit card number, which alone is not sufficient enough to create a counterfeit card.
With chip cards, merchants do not have access to any other data than what they had with a magnetic stripe card. The only information that merchants are allowed to store is the basic transaction data, such as the time, date, purchase amount and debit card number. This basic information is necessary in the event that a cardholder requests a trace. The only information stored from the debit card itself is the debit card number, which alone is not sufficient enough to create a counterfeit card.
