A magnetic stripe card is a type of credit or other card that allows the user to make electronic transactions or obtain entry to a particular space. The "stripe" contains embedded information that ...

Cards equipped with chips will become the new standard. The chip is more secure compared to a magnetic stripe because it creates a unique transaction code, which is verified by the bank.

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Thomas J Catalano is a CFP and Registered Investment Adviser with the state of South ...

it creates a magnetic field that can talk to standard magnetic credit card readers. "It emulates exactly what happens when you swipe a card in terms of transmitting data," Graylin said.

Now, it's time to prepare a eulogy to a gadget that's been an even bigger part of the American landscape for a much longer time -- the magnetic stripe credit card. An ingenious technology in its ...