MANAGEMENT

Detailed explanation-1: -A magnetic stripe card is a type of card capable of storing data by storing it on magnetic material attached to a plastic card. A computer device can update the card’s content. The magnetic stripe is read by swiping it past a magnetic reading head.

Detailed explanation-2: -The magnetic stripe reader reads the information by detecting the changes in the magnetic field caused by the flux reversals on the badge’s magnetic stripe. Dating back to the 1970s, magnetic stripe readers are widely used for access control and transaction processing.

Detailed explanation-3: -These tracks contain the credit card account number, name, expiration date, service code, and card verification code. Credit cards primarily or exclusively use the first two tracks. The third track sometimes contains additional information such as a country code or currency code.

Detailed explanation-4: -For payment cards, the information embedded in the magnetic stripe card includes the cardholder’s information like name, address, account number, and account balances. Magnetic card technology can also store security functions.

Detailed explanation-5: -The magnetic stripes on many credit, banking and other types of cards use a strip of magnetic material to store digital data. A small amount of data is stored on the strip, including the cardholder’s name, account number, expiration date, etc.