Originally Posted by
fairviewroad
I don't doubt the veracity of your accounts. But the words you chose imply a value judgement about the technology. I'm simply pushing back to say that I don't consider the European version of credit cards to be an advancement. Different, yes. But not necessarily better. And the fact that it is different does not in and of itself make the magnetic stripe version out-dated or "archaic."
The security level of a chip card is much greater than that of a stripe. The latter can be scanned by a machine that is out of your control. The chip card is more advanced in its technology and cannot be copied while the stripe has been compromised. In that sense it has become "antiquated". Credit card fraud is a serious issue and stripe-only cards are at greatest risk.