How much information is on your credit-card chip?
A leading expert in contactless card payment systems in Hong Kong has warned that the older generation of chips "carry too much data"; the account holders name, their account number and expiry date.  With those three items in place, an online purchase can be made.  This is why the latest generation of chips have removed one item: the holder's name. Yetserday the HKMA ordered that seven Hong Kong banks renew their clients' debit and credit cards due to a surge in "electronic pickpocketing".

Speaking one day after Monetary Authority orders seven banks to recall contactless credit cards, IT expert says they store too much information