magnetic stripe


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Related to magnetic stripe: Magnetic stripe card

magnetic stripe

n
(Electronics) (across the back of various types of cheque card, credit card, etc) a dark stripe of magnetic material consisting of several tracks onto which information may be coded and which may be read or written to electronically
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.magnetic stripe - a short strip of magnetic tape attached to a credit card or debit cardmagnetic stripe - a short strip of magnetic tape attached to a credit card or debit card; it contains data that will tell a reading device who you are and what your account number is, etc.
mag tape, magnetic tape, tape - memory device consisting of a long thin plastic strip coated with iron oxide; used to record audio or video signals or to store computer information; "he took along a dozen tapes to record the interview"
charge card, charge plate, credit card, plastic - a card (usually plastic) that assures a seller that the person using it has a satisfactory credit rating and that the issuer will see to it that the seller receives payment for the merchandise delivered; "do you take plastic?"
debit card - a card (usually plastic) that enables the holder to withdraw money or to have the cost of purchases charged directly to the holder's bank account
References in periodicals archive ?
3 Bank card blanks Local with magnetic stripe and dual
EMV stands for Europay, Mastercard and Visa, a global standard for cards that come with a chip rather than the present magnetic stripe to read data and proceed with transactions.
The State Bank of India had asked its customers to get their ATM-cum-debit cards with magnetic stripe replaced with the one with 'Europay MasterCard Visa' chip before December 31.
Magnetic stripe card technology, after more than six decades of its successful inception is still widely used in many parts of the world.
Full compliance constitutes completion of all EMV-related activities from upgrading or enhancement of back-end processes and systems, ATM and point of sales (POS) terminals to the replacement of magnetic stripe credit as well as debit or prepaid cards, including distribution of EMV-compliant cards.
Magnetic stripe technology is found in many cards including credit cards, gift cards, membership cards etc.
As a result, the magnetic stripe currently found at the back of the old ATM debit card will be disabled, which means clients will no longer be able to transact on any ATM and point of sale (PoS) terminal.
The SM Group's BDO Unibank, Inc., the country's largest bank, has announced that it will disable its old magnetic stripe ATM cards by February 1, completing the first batch of EMV (Europay Mastercard Visa)-card holding clients.
For cards with a magnetic stripe in the back, enough information is stored in that stripe to empower anyone to recreate the card, said Jojo Seva, chief technology officer for the credit union.
Magnetic stripe cards have been the dominant mobile payment method in the United States for quite some time.
BANKING AND CREDIT NEWS-August 4, 2017-New B2 Magstripe Card application eliminates need for physical magnetic stripe cards
M2 EQUITYBITES-August 4, 2017-New B2 Magstripe Card application eliminates need for physical magnetic stripe cards