Quote:
Originally Posted by paydayloansinfo
NFC chips haven’t really taken off in the US yet. Overseas people use the Near Field Communication technology to use their smartphones as credit or debit cards. But in the US, they aren’t common enough to use very often even if you have a phone with an NFC chip and Google Wallet installed.
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That's what's changing. Merchants are being forced to upgrade equipment that can handle the new chip & pin or chip & signature cards within the next couple of years (the hard deadline is, I believe, late 2015, but within the next month or so it will no longer be possible to even buy equipment that won't do the new chip cards). NFC isn't inherently part of the EMV system, but I have yet to see EMV equipment that doesn't include it.
Once the merchants - retailers - have the equipment in place, new cards will be sent out to consumers, whether you want one or not. The old cards will stop working. Within 10 years, I doubt there will be any magnetic strip cards still in use anywhere in the US. They're already disappearing in some countries in Europe.