Magnetic strip technology uses a kind of audio tape and video tape technology. The data is coded on magnetic strip.
Magnetic strip cards have two different version: credit card type magnetic strips and high coercivity bands. Hi-Co version improves the safety by reducing the possibilities of erasing and being damaged of the data by accidentally.
Many card and system suppliers can support both types. Differently from many data storage types, data on the magnetic strip card is rewritable and updatable.
The most known types of magnetic strips are the cards which are used at ATMS and POS machines at point of sales. Besides, they can be used for stores, gift cards, membership cards, exhibition cards, VIP cards, insurance cards and scorecard applications.