WHAT ARE THE PRINCIPLES OF ELECTROMANGNETIC INDUCTION?

We all are aware of revolutionary technology – visa debit and credit cards. Now similar cards are flooding the market. We swipe our card through the card swiping machine or card reader and our transaction is done. Super cool technology! Isn’t it? But have you ever wondered what is the technology used behind it? We all might have seen a black strip at the back of the card. This is a magnetic strip which produces electromagnetic induction and card reader uses this to determine the card details. Sounds interesting?