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Apple/Samsung/NFC Pay is not mag stripe. It is generally faster than a chip card.


Apple and Android Pay are not mag stripe, they're proper encrypted nfc payments. Samsung pay CAN be a magstripe emulation, for terminals that don't support NFC.


To clarify, EMV supports tokenized transactions that emulate the _contents_ of the magnetic stripe over NFC, and this is what is broadly used in the US.

Note here[0] that Chase states that only contactless MSD support (contactless magstripe emulation over NFC with a dynamically-generated security code) is required for Apple Pay; a subset of contactless EMV.

[0] https://www.chasepaymentech.com/developercenter/applepaymode...




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