magnetic strip
noun [C] (also magnetic stripe)Definition
› a magnetic area on the back of a plastic card that contains information in electronic form, especially information about who the owner of the card is, their bank account, etc.: Your personal details are stored in the card's magnetic strip. The data held on the magnetic strip is scanned when you swipe the card.
(Definition of magnetic strip noun from the Cambridge Business English Dictionary
© Cambridge University Press)
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