Magnetic Stripe

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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
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Aside from magnetic stripe cards, it can access ISO 14443 Type A and B cards, MIFARE cards, FeliCa cards, and ISO/IEC 18092 NFC tags.
This tool can be used to replace hundreds of magnetic stripe cards required for testing and certification of payment card acceptance devices.
Experts and vendors alike say that with the low cost and expanded functionality of magnetic stripe cards today, access control is perhaps the only function that can spark a smart card revival in the academic world.
This gives the financial institution the ability to issue multiple card types, including traditional magnetic stripe cards, EMV, contact and contactless cards.
DM2 is currently piloting a 50 merchant coalition loyalty program using magnetic stripe cards for loyalty, payments, and other applications, and will immediately upgrade the participating merchants to SCTN software, followed shortly by 200 additional merchant locations.
Smart card technology offers the financial industry -- especially the banking sector -- an immensely viable option to enhance security and curb the disturbingly high rate of fraud associated with magnetic stripe cards.
The uptake of smart cards is likely to be threatened by the emergence of alternative technologies such as proximity and magnetic stripe cards in physical access control applications and universal serial bus (USB) tokens in logical access control applications.
Other examples that illustrate Gemplus' aggressive global competitive strategy include: MasterCard mc(2), the first credit card targeting young Latin American executives launched by the Citigroup member Banamex; the conversion of several million ATM magnetic stripe cards to smart in order to boost security levels in Malaysian banking; and a co-branded smart banking card leveraging loyalty programs across the telecom, transportation and banking sectors in South Korea.