News

Mastercard Plans To Say Goodbye To Magnetic Stripes In 2024

The technology that makes magnetic stripes possible dates back to the 1960s.

Published

4 years ago

August 19, 2021

Joanna Melki

Mastercard

The pandemic has changed a lot of things, including the way we pay for goods and services. According to the Mastercard New Payments Index, 1 billion more contactless transactions were processed in the first quarter of 2021 compared to the same period in 2020. What’s more, 45% of all in-person checkout transactions in the second quarter of 2021 were contactless.

Now, the global payments and a technology company has announced that it plans to start phasing out the use of magnetic stripes on its credit and debit cards in 2024.

As explained in the official announcement, the magnetic stripe will first start to disappear for Mastercard payment cards in regions where chip cards are already widely used, such as Europe. In regions where magnetic stripes are still used relatively often, the phasing out process will be delayed by 3 years. From 2029, no new Mastercard credit or debit cards will be issued with a magnetic stripe.

“It’s time to fully embrace these best-in-class capabilities, which ensure consumers can pay simply, swiftly, and with peace of mind,” says Ajay Bhalla, president of Mastercard’s Cyber & Intelligence business. “What’s best for consumers is what’s best for everyone in the ecosystem.”

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The technology that makes magnetic stripes possible dates back to the 1960s, and we now have much more convenient and, above everything else, safer alternatives. One such alternative is the global EMV chip standard, which was introduced in the 1990s, enabling cardholder details to be held more securely on small integrated circuit chips embedded into cards.

Cards with EMV chips are currently responsible for 86% of in-person card transactions. We also have contactless payments, which can be made either using a card or with a modern, NFC-enabled smartphone. Since the outbreak of the pandemic, many policymakers and retailers have been endorsing contactless payments as the best payment method available, and the trend will likely continue even in the future.

News

OpenAI’s ChatGPT Health Is A Private Space For Health Data

A new health mode lets the popular AI platform tap medical records and fitness apps while walling off sensitive information.

Published

6 days ago

January 8, 2026

Nour Nasir

OpenAI

OpenAI has created ChatGPT Health, a separate space inside its chatbot platform for handling medical and wellness data. The opt-in feature starts with a small US cohort before widening out.

Health-related questions have long driven traffic to AI tools. OpenAI says over 230 million people ask ChatGPT about health or insurance each week. The new mode adds personal context to that behavior but stops short of diagnosis or treatment advice.

Users can connect records from participating US providers through b.well and link apps such as Apple Health, MyFitnessPal, Function and Weight Watchers. Some links are US-only, while Apple Health needs iOS. Once connected, ChatGPT can surface patterns in labs, summarize information ahead of a clinic visit or help map diet and exercise choices against past data.

The data sits apart from other chat information. Health has its own memories and does not spill into other conversations. Users can view or delete health memories at any time. OpenAI says this material is not used to train its models.

Security is much heavier in this section too. Health adds isolation and purpose-built encryption on top of the platform’s baseline protections. App connections require explicit permission, and disconnecting cuts the feed immediately.

“ChatGPT Health is another step toward turning ChatGPT into a personal super-assistant that can support you with information and tools to achieve your goals across any part of your life,” wrote Fidji Simo, OpenAI’s applications chief.

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Physicians had input during development, though OpenAI has not detailed how that shaped the end product. The launch follows Health Bench, a dataset released in May to test models on realistic medical cases.

While currently rooted in the US healthcare ecosystem, the approach may draw interest in the Gulf and wider MENA markets as governments push digital health records and patient portals under modernization programs. Adoption will depend on whether users trust an AI assistant with such personal material and whether it fits clinical routines.

For OpenAI, the move marks a cautious step into regulated terrain and signals a shift toward sector-specific uses of generative AI.