Traditional credit cards are no dumber than new smart cards

10/17/2010 | New York Times (tiered subscription model), The

The new credit cards with an embedded chip may be all the rage, but they're actually not much "smarter" than the traditional cards that have been around for decades. In order to use the advanced technology of a smart card, a smart reader is needed and relatively few of those are available. American Express and a few other companies are persevering, but the change has yet to really catch on in the U.S. as it has in Europe.

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