Magnetic Stripe
Traditional data strip on cards read by swiping devices.
Detailed Description
Magnetic Stripe
What is a magnetic stripe?
A magnetic stripe is a black strip of magnetic material on the back of cards that contains encoded data for electronic transactions.
How many tracks does a magnetic stripe have?
A magnetic stripe has three tracks, each storing different types of data.
What are the main advantages of magnetic stripe technology?
Magnetic stripe technology is cost-effective, easy to use, and widely accepted at payment terminals.
What are some security concerns associated with magnetic stripes?
Magnetic stripes are vulnerable to skimming and cloning, making them susceptible to fraud.
How do chip cards differ from magnetic stripe cards?
Chip cards generate unique transaction codes for each purchase, providing enhanced security compared to static data stored on magnetic stripes.