The traditional checking account is, by and large, the most popular banking option among American consumers. However, there’s another tool gaining popularity — the prepaid debit card.
If you’ve received a new credit card within the past year, chances are you’ve noticed some subtle changes to how you purchase things in stores. Instead of “swiping” your credit card, merchants are asking you to insert it into a slot (sometimes known as “dipping”).
Welcome to a smart new security device: the EMV chip. But what is this chip? Where did it come from and why do we need it?