Magnetism in credit cards
Magnetism in credit cards Shahminah Mahar-ullah 3/29/19 The stripe on the back of a credit card is a magnetic stripe, often called a mag-stripe. The mag-stripe is made up of tiny iron-based magnetic particles in a plastic-like film. Each particle is really a very tiny bar magnet about 20 millionths of an inch long. After you or the cashier swipes your credit card through a reader, the EDC software at the point of sale, terminal dials a stored telephone number via a modem to call an acquirer. An acquirer is an organization that collects credit authentication requests from merchants and provides a payment guarantee to the merchant. When the acquirer company gets the credit card authentication request, it checks the transaction for validity and the record on the mag-stripe for merchant ID, valid card number, expiration date, credit card limit, and card usage. In my opinion I think this can get us pretty far in the future. We already use magnetism in so many things ...