During the use of this product, magnetic stripe cards were also being developed for credit identity applications and later found a receptive market in security.
Magnetic stripe cards provided an encoded bit pattern on a magnetic strip attached to the back of the card. These cards are still used today for credit card identification and other forms of unique credentials.
Eventually, the magnetic stripe card gained wide acceptance in the security industry and, for a time, was widely used as an inexpensive, relatively secure credential.