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Visa "chip" cards, are they really more secure?

Red Squirrel

No Lifer
I was thinking, are those chip cards just a false sense of security? I only went to one store so far where they actually had to insert it into a slot to read the chip. All other stores don't even need that check and the transaction goes through fine. This gives me the impression the chip thing is just a client side thing that some stores decide to implement. Then there's the whole idea that I can use it online anyway.

So really all someone needs is the information on the card, not the card itself, to perform fraud, so what exactly does the chip do extra as far as security goes?
 
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