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[Music] credit cards with magnetic strips have been around since the 1960s and up until about 10 years ago this was the only way to make physical transactions with a card but in recent years weve seen the implementation of chip technology and contactless payments like tap to pay and apple pay with these new forms of payment technology in play swiping cards with magnetic strips is actually now the least secure way to use a card and mastercard has announced that the end is near for magnetic strips the technology will be phased out over the coming years so in this video we are going to look at how this technology came to be and that in itself is a fascinating story involving ibm the cia and one unlikely housewife with a bright idea and then were going to look at mastercards plan for phasing out the technology and what card payments will look like into the future so when payment cards were first introduced in 1950 with the original diners club charge card they were just pieces of cardb