SBI online: What is this new chip-based debit card? How is it better than Magstripe cards?
Chip-based new SBI debit cards are designed in such a way that they prevent online fraud through card cloning, skimming, etc because they have sophisticated encryption, which is difficult to hack.
A hacker or malware attack fishes out the stored data from the Magstripe debit cards we have been using so far. But, in the case of these new debit cards, it will not do so after each transaction. Photo: Reuters