Bankcards, both credit and debit ones, will be changing come 2024 all over Europe. From that moment all new cards issued will have no magnetic strip.

Replacing the magnetic strip will be a new system designed to improve secuity and avoid bankcard fraud, which by 2033 will have completely replaced the magnetic-strip ones.

In Spain, the first bankcard to lose the strip will be MasterCard, according to this company, who consider that the future of bankcards will be the biometric ones that will come into being in 2024.

The biometric bankcards combines fingerprint checks with a chip technology in order to securely identify the bank-account holder.

In other words, when the system comes into being, you will no longer need to remember your PIN but instead will use your fingerprint, which is a system that many smartphones already use.

(News: Spain)