Are Credit and Debit Cards with Magnetic Stripes Disappearing in 2023?

The system is about to have a series of changes and from there, the question has been raised as to whether the Credit and debit cards con magnetic stripe in 2023.

We are getting closer to the date in which some credit and debit cards will no longer be accepted to make payments in Mexico and in other countries around the world. This is because Mastercard, a US multinational financial services company, announced its plans to replace its Credit and debit cards.

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Needless to say, the aforementioned company plans to do this, at least for now. This is because they have contemplated the replacement of the magnetic stripes in their different bank cards, in order to make financial operations more secure.

This will be replaced by innovative electronic chips, something that will make the use of plastics safer. For more precision, the company USA delimited that the process of substitution of the old Bank cards with magnetic stripe for electronic chips will start in 2024 and end in 2033.

In other words, in 9 years there will be no way for them to be accepted. To date, only Mastercard has manifested itself with this policy, they have also expressed that they consider other rival companies to fold to this measure.

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For now, keep in mind that it is necessary to inform yourself to know exactly what to do at each step, in order to have optimal financial health.