... I would guess that the chip inside only contains a serial number. Each card would have a unique serial number and when given to a customer, any data recieved would be put into a main computer, not on the card. When playing, the card only shows WHO is playing and associates it with a user ID on the main computer.

This would protect the card issuer from liability of properly protecting personal data. All the REAL data is on the issuers computer, not on the card. The same data (Name) is just printed on the face of the old style cards. IMHO