Chip technology replaced magstripes to stop easy card cloning and fraud

Microchips in payment cards improve security by generating unique transaction codes

Magnetic strips store unchanging data that is easily cloned, but microchips act as miniature computers that encrypt sensitive data. They also resist fraud by creating data unique to each transaction, preventing duplication.

Why there are microchips in credit cards

Credit cards have evolved significantly since their invention in 1950, but security lagged in the US for years. Despite handling only a quarter of global transactions, the US once accounted for half of all credit card fraud. The 2013 Target data breach helped push the adoption of chip cards, reducing fraud but shifting risks to online scams.

Old credit cards can be made into guitar picks, phone stands and more

Experts recommend always cutting through the chip and the card number when disposing of expired credit cards, as the magnetic strip, the chip, and the card number all contain information that thieves might be interested in.

Contactless credit cards descend from a batteryless Cold War listening device

The same physics that let Soviet spies eavesdrop on the US ambassador in 1945 underlie contactless payment methods today. The device is a passive chip powered wirelessly by incoming radio waves.

Algorithms built to detect credit card fraud can deny charges if they perceive the attempted purchase is unfamiliar or unusual based on historical data, even when a person has enough credit to make the purchase.

Since fraudulent charges are rare compared with the much greater number of transactions across purchase histories, these models have been shown to be overly sensitive, lacking sufficient training data on what legitimate fraud looks like. Models also perform less reliably for groups in low-income areas or communities of color, given less available data from which to build an accurate baseline.

Digital passports allow identity verification to be digitized

By scanning the security chip on the back of passports and capturing images or video of a person, apps like Google Wallet and Apple Wallet create a digital version of the document. Some states have also developed their own apps for digital driver's licenses.

Gas stations top the list of riskiest places to use a debit card

Unlike credit cards, debit cards withdraw funds directly from your checking account, and federal laws provide fewer consumer protections against debit fraud. Gas station "skimmers" and long periods of separation from the card at restaurants are some of the more vulnerable spots for use.

See an original Diner’s Club charge card

Before credit cards, there were charge cards from companies like Diner’s Club. While credit cards allow cardholders to carry a balance from month to month (potentially accruing interest), charge cards like Diner’s Club cards had to be paid off right away.

Merchants have to pay credit card transaction fees each time a card is swiped

Credit card networks such as Visa, Mastercard, and American Express must calculate fees for not only the customer, but also the merchant in every transaction.

A company called Bluprynt is combating counterfeit cryptocurrency

While some cryptocurrency advocates might argue that it's more difficult to counterfeit crypto than physical currency, some estimate that fake cryptocurrencies are losing crypto users at least $1.6B each year.

Some coin denominations have ridges etched on their sides, partly to prevent counterfeiting, in a practice called 'reeding.'

Palm-scanning is the future of digital payments

Owned by Tencent, WeBank was China's first digital bank and services 340 million customers. Leveraging its parent company's technology portfolio, WeBank is determined to make palm-scanning the biometric equivalent of the credit card.

Chip-based 3D printers can be pocket-sized and involve no moving parts

Researchers have demonstrated a proof-of-concept version of a chip-based 3D printer that emits visible light onto light-sensitive resin to construct solid shapes. The technology may provide a portable, low-cost solution for future, small-scale fabrication needs.

Passkeys, a new authentication method, aim to replace traditional passwords

Passkeys use cryptography keys to secure logins without passwords, resisting phishing and risks from data breaches. The FIDO Alliance developed passkeys as a combination of public and private keys for authentication.

Affirm's COO recently said that the company believes the credit card is 'going the way of the VHS tape'

Some people use buy now, pay later apps as an alternative to credit cards. BNPL services have a lower barrier to entry than credit cards—many frequent BNPL users have low credit scores.

Thomas and Anne Rogers were famous counterfeiters in 17th-century England

The pair used a practice called “coin clipping,” shaving the edges off silver coins to decrease their weight before sending them back into circulation. When banknotes rather than coins gained popularity, counterfeiting methods evolved—in the 1700s, an early banknote counterfeiter named Mary Butterworth created counterfeit paper money using starched cloth and a hot iron to transfer the pattern of a banknote onto paper.

The Australian $5 bill has an image of a bird that glows when exposed to UV light

That’s just one of the many anti-counterfeiting security measures that the Australian government implements on its currency. Popular banknotes from around the world all include their own unique security features—this infographic outlines a few unique ones.

Audio deepfakes have fooled voice biometrics at banks

Limitations in facial and body movements as well as mismatches between audio and lip movements can sometimes help flag a video as a deepfake, but removal of the video component significantly improves AI mimicry.

An integrated circuit combines major circuit components onto a single device

Before 1958, these components were fabricated separately before manual assembly, introducing human error, delays, and higher costs. The invention of the IC laid the foundation for automated manufacturing, miniaturization, and improvements to speed and energy efficiency.

Laser disc technology stores binary data in etched pits and lands

The pits are dips in the LaserDisc, CD, DVD, or Blu-ray surface that do not reflect the laser from the optical drive back to the photoelectric cell, resulting in a coded zero. Lands are reflective plateaus on the surface that code for a one.

QR codes were developed in Japan in 1994 to fix bar code limitations

These codes store more data than traditional barcodes—up to 1,850 uppercase characters—and can be quickly scanned from any angle thanks to visual indicators like green squares and zebra-striped lines communicating orientation.

Symmetric patterns of magnetic stripes seen on either side of mid-ocean ridges

The symmetry provides evidence of seafloor spreading, where new oceanic crust is created at mid-ocean ridges, which pushes older ocean crust away on either side. Matching the pattern to magnetized material in rocks on Earth’s surface provided a timeline of ocean floor recycling.

From bartering to banking, temples to electronic transactions, here’s banking has evolved significantly since ancient times

A few historical facts about banking (like that one day, not long ago, certificates of deposit were physical pieces of paper) may not surprise you. But did you know that the church was the original lender? And that Julius Caesar himself invented foreclosure?

Financial institutions use 'Know Your Client' standards to prevent money laundering

KYC standards include verifying customers' identities and conducting regular account checks for high-risk clients to avoid money laundering schemes. These standards obligate banks to report suspicious customers and activity.

Tattoos, explained

Tattoos last because immune cells trap ink beneath the skin—but there's more to the story. This overview looks at how ancient cultures used tattoos for status, spirituality and punishment; how technology like the electric tattoo machine transformed the art form, and where innovations like smart tattoos could take it next.

This is not a chip

Pringles aren’t chips—legally speaking. In the US, the FDA said they’re not potato chips. In the UK, courts ruled they’re not even crisps. Turns out, being 42% potato creates a lot of legal confusion. So what are they, really?

When you complete a CAPTCHA on a website to prove you are human, you may be unknowingly training algorithms for self-driving cars, whose systems require training data to help identify crosswalks, bicycles, and other outdoor objects.

Tattoos remain visible on your skin thanks to immune cells called macrophages

Radioactive elements can introduce software errors because the ionizing radiation they produce can detach electrons from atoms, and computer code relies on the distribution of electrons.

Indefinite cloning of some endangered species may not sustain their longevity because cloning success rates decrease as genetic mutations accumulate.

US consumers collectively owe more than $1T to credit card companies—almost as much as they owe in auto loans.

Sony set the standard for cylinder-shaped batteries when it repurposed manufacturing equipment used to make rolls of magnetic recording tape.

Visualize how CRISPR-Cas9—a type of immune system used by single-celled organisms to attack invasive viruses—targets and makes precise changes to a gene's DNA.

Memecoins are a type of cryptocurrency—a form of digital currency with a wide variety of uses—created around popular 'memes,' or viral internet jokes.

When caught in the mouths of cardinal fish, seed shrimp release glowing, bioluminescent chemicals, which alert predators of the cardinal fish, prompting the shrimp's ejection.

The first steps to rebuilding your credit score include getting to know exactly what's on your credit report and figuring out how far you are from the '700 club,' or 'good score' range.

As of 2025, the most cited papers in science include a review of graphene, methods to improve image recognition, streamlining electron density calculations, and optimizing protein studies.

The name 'Silicon Valley' arose from the founding of Shockley Semiconductor Laboratory in Fairchild Semiconductor in 1956-57, founded near Stanford University in Palo Alto

Fear or disgust related to clusters of holes and cracks, called trypophobia, may stem from evolutionary processes to help us avoid pathogens.

Art theft is the third-largest source of criminal revenues worldwide, thanks in part to the subjective nature of valuing a work of art.

Long before Major League Baseball began allowing instant replay for balls and strikes, an umpire reluctantly used the technology to determine whether a hit was a home run, a move that inadvertently ushered in a new era for the sport.

Gerrymandering works through two techniques: cracking opposing voters across districts to dilute their power, and packing them into a few to waste their votes in lopsided majorities.

Up to a million Girl Scouts sell about 200 million cookie boxes every spring, generating $800 million, largely because refusing a child is frowned upon

Hedge funds, the private investment firms that trade a wide swath of financial assets, make money by imposing steep fees on investors and from the fund's investment performance.

The syncytiotrophoblast is the outer layer of the placenta and the largest human cell, spanning an area about twice that of a king-sized bedsheet.

Telehealth demand for GLP-1s for weight loss is booming as consumers seek easier access.

See how fireworks are made and learn how metals like magnesium and copper are responsible for different colors.

According to the physics of black holes, our 4D reality may be a hologram—a projection of information coded on a 2D surface on the edge of the universe.

The term 'algorithm' originated from the Latinized name of al-Khwārizmī, a 9th-century mathematician whose works introduced Arabic numerals and the decimal-based numeral system to Europe and whose treatise 'Al-Jabr' gave algebra its name.

The price of gas is a composite made up of several different factors, with the federal gas tax making up less than 20% of what drivers pay at the pump.