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Magnetic stripe readers
Magnetic stripe readers are devices that are utilized to allow the encoded information contained in the magnetic stripe that is found on the back of credit, debit, and other types of payment cards. The reader makes it possible for vendors to accept the cards for payment and quickly complete the transaction.
The magnetic stripe reader may scan and read detail such as the account number and expiration date for the card and the name of the cardholder.
You will usually find these gadgets at Point of sales terminals, ATMs. Many times Magnetic stripe readers are used to validate entry of authorised personnel into a building.