Identity thieves also use handheld magnetic card readers that can be easily purchased right on the internet. (creditrobbersblog.com)
New regulations that move the liability of fraud to merchants means that most magnetic cards are being replaced with chip cards. (nationalcreditfederation.com)
Each phone includes the requisite hardware to work with magnetic card readers — simply hold the phone next to the card reader with your finger on the fingerprint scanner and it will run through the magnetic stripe sequence. (androidcentral.com)