Why has it taken so long for the chip technology (EMV) to take grasp in America? That magnetic stripe on the back of your card has been around since the beginning when airlines were in search of a faster way to process credit cards (thanks to American Airlines and IBM).
However the rest of the world has moved on from the mag stripe to what is known as a chip card or the EMV standard.
NPR had a good piece about why the chip card has been so slow to roll out in America and even now that it is here why it still isn't used by majority of merchants today.
It's worth your time to listen if you have 18 minutes.
The next ten years around payment technology and security will be astronomical in change compared to the last 50 years.
NPR audio originally posted on Lifehacker.com