The company plans to discontinue the use of the magnetic stripe for the launch of its future cards.
The latest images of Mastercard cards show a much more refined and clean design. On the front, the chip remains, along with the cardholder’s name. On the back, the card number, security code, and expiration date, essential for making any secure payment, are displayed.
The process will begin in 2024. The transition will not happen immediately and is expected to be widespread by 2024. However, estimates predict that it won’t be until 2033 that the last magnetic stripe cards will go out of circulation.
Source: (Payment Media, n.d.-b)
