Should sensitive cardholder data be held as standard in magnetic stripes on European EMV cards?
The European ATM Security Team (EAST) has conducted a
website poll on this topic. On currently available plans, by the end of 2010 all ATMs within Europe are expected to be EMV (Chip and PIN) compliant. The data on the magnetic stripe is no longer required for a transaction at EMV compliant payment terminals
and ATMs. Over the past decade the industry has invested a substantial amount into this technology.
The magnetic stripe data, which is vulnerable to being copied or ‘skimmed’, is only required for transactions outside Europe at terminals/ATMs that are not EMV compliant.
EAST is bringing focus onto this issue to encourage industry discussion and debate.