Magnetism in credit cards

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Magnetism in credit cards

Shahminah Mahar-ullah
3/29/19

Image result for magnetism in credit cards
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.

Image result for magnetism in credit cardsWhen 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 with identification, for example ID cards,  and hotel cards. This is just the beginning of adding technology into everything.


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