Currently, the US is one of the countries that still using the outdated credit card, which uses the magnetic strip to do transactions. The other countries are already using a chip-based card that would make transacting harder for fraudster.

The problem with the magnetic strip is that it can be easily copied since most of the information can easily detect. The information installed on the magnetic strip has no protection. A common hacker can detect the information easily. Each year, card frauds cost the US merchants around billions of dollars.