America’s existing credit card system — embossed account numbers on the card face and the magnetic stripe on the reverse side — is ready for retirement. But we have trouble getting rid of it, due to the immense cost of replacing obsolete payment terminals that date back to the Nixon administration. An alphabet soup of potential replacements — NFC, EMV, chip and PIN — have been trotted out. But a new process announced by a scientist in Great Britain promises to embed the data of both features directly into the card, obviating the need for holograms and other doodads.
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