A magnetic stripe reader, also called a magstripe reader, is a hardware device that reads the information encoded in the magnetic stripe located on the back of a plastic badge. Magnetic stripe readers can be read by a computer program through a serial portUSB connection, or keyboard wedgeand are generally categorized by the way they read a badge. For instance, insertion readers require that the badge be inserted into the reader and then pulled out.
You probably know that chip cards offer much better fraud protection and help prevent chargebacks than the now antiquated magnetic stripe cards, but what are the specific differences between the two? And how does that affect the decisions your business should make? These are important questions to have answers to when designing your payment processing solutions model, and knowing the differences will help you make better business decisions.
We receive a steady stream of questions about how powerful neodymium magnets might affect the magnetic strip on a credit card. This includes questions such as:. While we have a good idea about how these things should work theoretically, it seemed about time to try erasing cards with some magnets.
It appears within several technologies, ranging from credit cards and identification cards to security and ATM cards. Magnetic strips have become so widespread due to the many advantages that they provide. Magnetic strip technology is extremely reliable and has been thoroughly tested over the years. Its longevity is proof that magnetic strips accomplish what they set out to do.
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A magnetic stripe card is a type of card capable of storing data by modifying the magnetism of tiny iron-based magnetic particles on a band of magnetic material on the card. The magnetic stripe, sometimes called swipe card or magstripeis read by swiping past a magnetic reading head. Magnetic stripe cards are commonly used in credit cardsidentity cardsand transportation tickets.
Magnetic stripe technology allows data to be stored on a conventional plastic card by magnetically charging tiny bits within a magnetic stripe on one side of the card. This type of technology has largely built the new credit and debit card model, which has, to a certain extent, replaced cash transactions around the world. By creating magnetic stripe cards with high durability and data integrity, banks and financial businesses have been able to implement all sorts of card-based transactions and procedures.
Though most adults have plastic credit cards or debit cards that they use for purchasing goods and services, few likely know how the magnetic strip on the back of the card works. The magnetic strip actually comprises very small iron-based magnetic particles in a plastic-like film. Each particle is a tiny bar magnet designed so that the magnetic strip can be written in either a north pole— or a south pole—direction.
Switch to new thesaurus. Mentioned in? References in periodicals archive? ATM skimming- an illegal activity in which account details are stolen from the magnetic strip contained on the back of the debit card has been around for a while and such incidents have happened, sporadically, in Pakistan as well.