magnetic stripe
Definition
Narrow rectangle of magnetic material affixed to or printed on the back of a bank card, credit card, or other such items. It usually stores account number, customer's personal identification number, and other such information readable by ATMs, card swipe machines (magnetic stripe readers) and other similar devices. Information stored in a magnetic stripe may be damaged or obliterated in the close vicinity of strong electrical or magnetic fields.
magnetic stripe is in the Banking, Commerce & Finance and E-Commerce subjects.
magnetic stripe appears in the definitions of the following terms: mail order/telephone order (MOTO) discount rate, bank card, electronic funds transfer at point-of-sale (EFT-POS), smart card, input device, magnetic stripe reader, automatic data capture, credit card and barcode reader
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