Some mobile credit card processing devices can read magnetic stripe cards. But how does this choice for payment processing work? You’ll see when you look at how a card works why it is not as popular as it used to be.
A magnetic stripe card features a series of iron-based magnetic particles in a stripe on the top end of the back part of the card. The iron is spread in different levels to create a unique display of magnetically-stored information. It includes details on a card account, the name involved, and other factors for the transaction.
A magnetic reading head will review the contents on that stripe. The magnet will react to the iron compounds and create a unique image displaying the card’s information. The card must be clean and swiped perfectly to ensure the reader can find the data listed within the card.
This format for payment processing is effective and can help you manage transactions in moments, but it also needs extra care. You’ll need the stripe to stay clean and visible. Any imperfections will make the mobile credit card processing effort harder to manage.
The mobile payment processing device you use must also have enough space for reading a magnetic stripe. While chip-based cards are becoming more popular, the magnetic card is still common in some places. Some users may also prefer traditional magnetic stripe cards if they struggle to get chip-based models to work well enough for their needs.