Credit Card Readers Are Now Called Magnetic Stripe Readers

A magnetic stripe reader is a hardware input device or peripheral commonly used for swiping credit cards, ATM cards, bank cards, loyalty or membership cards.  With the use of a magnetic stripe it is able to read the stored information on the card. The magnetic stripe reader validates / confirms the accuracy and authenticity of the card issuer and card holder as well. It can be used to updates timely records on every transaction that the card is used for. Mag strip readers were known before as credit card readers, but because it is has become more widely used not only for credit cards but also for all other forms of cards that have a magnetic stripe it eventually got a more common used name of magnetic stripe reader.