Magnetic Stripe definition

Magnetic Stripe refers to a stripe of magnetic information affixed to the back of a plastic credit or debit Card. The magnetic stripe contains essential Cardholder and account information.

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Magnetic Stripe means a stripe of magnetic information affixed to the back of a plastic Credit or Debit Card. The Magnetic Stripe contains essential Cardholder and account information.

Magnetic Stripe means a stripe of magnetic material affixed to the back of a Card that contains Cardholder

Examples of Magnetic Stripe in a sentence

Card data information protected by the P2PE Service may include Track 1 or Track 2 data (Magnetic Stripe Data obtained through a magnetic card swipe read) or PAN Data (Manually Entered Personal Account Number ("card") data) as appropriate to the type of transaction processed on the SCD.
Retain or store Card Magnetic Stripe, CVV, CVV2, CVC2 or CID data (including Track Data) subsequent to Authorization for a Card Transaction.
Card data information protected by the E2EE Service may include Track 1 or Track 2 data (Magnetic Stripe Data obtained through a magnetic card swipe read) or PAN Data (Manually Entered Personal Account Number (card data) as appropriate to the type of transaction processed on the terminal.
When presented with a contactless-enabled mobile phone, in addition to the “Magnetic Stripe Card Charges” requirements, you must: • Capture Magnetic Stripe or chip Card data by waving the contactless-enabled mobile phone in close proximity to the contactless reader.
Retain or store Card Magnetic Stripe data after Merchant receives payment for a Charge.
The Magnetic Stripe contains essential Cardholder and account information.
Magnetic Stripe: A stripe of magnetic information affixed to the back of a plastic Credit or Debit Card.
Neither Merchant nor any of its agents shall retain or store the full contents of any track on the Magnetic- Stripe, or equivalent data on the Contactless Payment chip, subsequent to Authorization of a Card transaction.
You may not retain or store Magnetic Stripe data or Card Validation Codes after a transaction has been authorized.
Sub-Merchant may not retain or store Magnetic Stripe data or Card Validation Codes after a transaction has been authorized.

More Definitions of Magnetic Stripe

Magnetic Stripe means a strip of magnetic tape affixed to the back of a Card containing basic Data such as theaccount number and the Customer’s name. 104. “Manual CardTransaction” means a Card Transaction where the Card is present and an Imprint of the Card details needs tobe recorded. 105. “Manual Entry” means the keying of a Card number into the Card Acceptance Device to process a Card Transaction without inserting the Card into, or swiping the Card through the Card AcceptanceDevice. 106. “MasterPass” means MasterPass ™, a digital storage facility, on a smart phone, where payment informationsuch as the Customer’s Card number and expiration date, and other information is stored. 107. “Masterpass EnabledApp” means an application installed on a Card Acceptance Device which allows a Merchant the option to offer a payment mechanism to Customers whereby a Customer can make paymentby scanning a QR Code on the Card Acceptance Device, or by the Merchant capturing aMasterPass reference number on the Card Acceptance Device. 108. “Mastercard Global Wholesale TravelCard” means a virtual Payment Instrument that qualifying merchants in the travel industry accept forbusiness to business payments. 109. “Mastercard Global Wholesale TravelCardLevy” means the charges, calculated as a percentage of the Transaction value, that are payable forprocessing Transactions with a Mastercard Global Wholesale Travel Card. 110. “MasterPassMerchant Portal” means the interface accessed via a browser that you can use to view MasterPass Transactionsand access reports on MasterPass Transactions. 111. “MasterPass Solution” means a service provided to you by us, allowing you to accept payment from Customers usingthe MasterPass Enabled App to perform and to access the MasterPass Merchant Portal. 112. “Material Change” means any changes to the Merchant Agreement that have a significant impact on your business, could lead to a penalty being imposed on you, or that change the relationship between you andus. 113. “MATCH” means the fraud system which lists high risk merchants which we use to aid in an onboardingdecision. 114. “Merchant Agreement” means these Terms, Fees Schedule, including the Application Form, FICA schedule, the suretyshipagreement (if applicable) and any other appendix thereto entered into betweenthe Parties.

Magnetic Stripe means a strip of magnetic tape affixed to the back of a Card containing basic Data such as theaccount number and the Customer’s name.