This past week Google shared information on its new budget phone, the Pixel 5a. The stripe is just annoying. If you’re in the business of taking credit cards then be ready for upgrades to your point-of-sale and payment devices.ģ - Google unveils its new budget Pixel phone as it continues to build out its hardware business. Mastercard’s move indicates, finally, an industry trend towards chips on cards which will ultimately lead to fully digitizing our credit cards through mobile payment apps on our smartphones. With credit card companies moving in the direction of contactless payments and chips-alternatives that are more convenient and secure- Mastercard shared that it will be the first payments organization to start getting rid of the stripes which have been around for the last 60 years and will begin the transition in 2024. Mastercard recently announced that it plans to phase out magnetic stripes on its debit and credit cards over the course of the next 10 years. 2 -Mastercard is phasing out magnetic stripes on its cards starting in 2024.
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