Mastercard has announced it will be phasing out the magnetic stripe on its payment cards in “most markets” from 2024 as reliance on chip-based and contactless payments continues to grow. The company said the magnetic stripe will start to disappear in newly-issued Mastercard credit and debit cards in Europe, while banks in the United States will no longer be required to issue chip cards with a magnetic stripe starting in 2027.
Mastercard waves goodbye to the magnetic stripe on payment cards | ZDNet