Magnetic+Strip+Reader

=Magnetic Strip Reader= Chiara Sabelli

The magnetic reader works by swiping a card through a magnetic stripe reader gap. The reader is able to read the data that is stored on the magnetic stripe on the back of the card. ** The reader makes it possible for sellers to accept the cards for payment and quickly complete the deal. The magnetic stripe  reader reads and proves the information with the card issuer in real time, and makes it possible to credit the account of the seller while also applying the charge or debit to the card holder’s account. The magnetic stripe  reader may scan and read both tracks included in the magnetic  stripe , or only scan one  stripe. All of the magnetic stripe  reader will read what is referred to as Track Two. This track contains set detail such as the account number and expiration date for the card. Many types of magnetic stripe readers  also read what is known as Track One. This track will feature the name of the cardholder. The value of the magnetic    stripe     reader to the seller is obvious. Unlike older ways of accepting    credit card     payments, such as making an impression of the card and running the payment after the close of the business day, meant a delay in receiving the funds generated by the sale. Since the magnetic    stripe     reader makes it possible to verify immediately both the active status of the card and that the amount of purchase is approved, vendors are credited with the funds quickly. Card issuers generally do not charge the vendor any additional fees for handling the transaction using a magnetic    stripe     reader.
 * A magnetic strip reader is an input device that reads the stripe at the back of a credit card, debit card etc.