Magnetic Stripe

(redirected from Magnetic strip)
Also found in: Dictionary, Thesaurus, Encyclopedia.

An electromagnetic surface that is either coded—e.g., credit or ID card—or codable—e.g., a rechargeable phone card with a small amount of information

Mentioned in ?

reader

References in periodicals archive ?

Check the ATM to see if it looks like it has been physically altered or damaged, if anything is attached to the built-in card reader (to read the magnetic strip) or if there are any small cameras around the keypad.

How secure are today's ATMs? 5 questions answered

Always shield the keypad with your free hand and your body to avoid anyone seeing you enter your PIN Once you have completed a transaction, put your money and card away before leaving the cash machine If the cash machine does not return your card, report it immediately to your card company BEWARE OF THE CHEATS Magnetic strip can be easily cloned

A UTOMATED T HEFT M ACHINE

* When the merchant conducts "fallback transactions." A fallback transaction is one that is initiated between a chip card and a chip terminal but, for whatever reason, chip technology is not used and the transaction is completed via magnetic strip. In this scenario, the merchant is not liable as long as they identify the transaction as fallback to the card issuer, and if the issuer approves the fallback transaction.

Transition to chip cards exposes merchants to new liabilities

The chip in the cards has a unique encryption code, which should be more secure than magnetic strips on older cards.

U.S. retailers make switch to EMV technology

With EMV cards, the machine reads information stored in the micro chip on the face of the card, but, unlike the magnetic strip, a unique code is generated for each transaction, never to be used again.

EMV arrives

EMV chip cards differ from magnetic strip cards in the following respects: Magnetic strip cards are encoded with the same basic information, which terminals capture and pass on for authentication and authorization.

Without Chip, Fraud Liability Protection Will Dip

But in addition to the standard magnetic strip on the back, it also has an embedded microchip.

Chip cards are consumers ready? Consumers say they support replacing magnetic-strip payment cards with new embedded-chip cards requiring PINs. If that's really the case, why haven't they upgraded from their old cards?

There is a matching magnetic strip in this channel so the screen edge sticks securely to it when the screen is pulled over the door.

Front door screen options

Among other things, said a banker, there are not enough manufacturers who can supply ATMs or POS that accept traditional cards with magnetic strips, EMV pin and chip, as well as equipped with biometric readers for accepting Aadhaarbased transactions.

BANKS RARELY DEFY RBI INSTRUCTIONS

These cards us a microchip instead of a magnetic strip and are expected to cause a decrease in credit-card fraud.

Visa and MasterCard win infringement suit against SmartMetric

A feature of these LED lights is an optional magnetic strip for attaching the light fixture to a metal shelf to allow for greater functionality and maneuverability.

LED lights boast efficiency, adaptability

They know that many season tickets used in West Yorkshire have no magnetic strip and so are incompatible with ticket gates.

Train ticket barriers; Mailbag letters also appear online at www.examiner.co.uk/letters Mailbag