The Long Life and Imminent Death of the Mag-Stripe Card

This love child of the airline and banking industries has survived for half a century. But the end is finally near

8 min read
Photo of backs of credit cards.
Photo: Levi Brown; Prop Stylist: Ariana Salvato

In 1967, the airlines were flying Boeing 727s and Douglas DC-8s. Air travel was still special, and the airlines were raking in cash. But a problem loomed, and it was potentially calamitous. The airlines had placed their orders for the first wide-body aircraft—the 747 and the DC-10—and these giant planes would dramatically boost the number of people arriving simultaneously at customer service counters. So to prevent chaos at those counters, the airlines had to find a way to speed up ticket sales and passenger processing.

Banks, too, were facing difficulties. Bank-backed credit cards were surging in popularity, and merchants were swamped with paperwork: Every time a customer charged an item, the merchant had to write out a charge slip and make a phone call to get the charge authorized. And all-night convenience stores and even the growing popularity of late-night television meant that people were no longer satisfied with banker’s hours and expected banks to make services available on evenings and weekends.

Keep reading...Show less

This article is for IEEE members only. Join IEEE to access our full archive.

Join the world’s largest professional organization devoted to engineering and applied sciences and get access to all of Spectrum’s articles, podcasts, and special reports. Learn more →

If you're already an IEEE member, please sign in to continue reading.

Membership includes:

  • Get unlimited access to IEEE Spectrum content
  • Follow your favorite topics to create a personalized feed of IEEE Spectrum content
  • Save Spectrum articles to read later
  • Network with other technology professionals
  • Establish a professional profile
  • Create a group to share and collaborate on projects
  • Discover IEEE events and activities
  • Join and participate in discussions

Video Friday: Turkey Sandwich

Your weekly selection of awesome robot videos

4 min read
A teleoperated humanoid robot torso stands in a kitchen assembling a turkey sandwich from ingredients on a tray

Video Friday is your weekly selection of awesome robotics videos, collected by your friends at IEEE Spectrum robotics. We also post a weekly calendar of upcoming robotics events for the next few months. Please send us your events for inclusion.

CoRL 2022: 14–18 December 2022, AUCKLAND, NEW ZEALAND

Enjoy today's videos!

Keep Reading ↓Show less

New AI Speeds Computer Graphics by Up to 5x

Neural rendering harnesses machine learning to paint pixels

5 min read
Four examples of Nvidia's Instant NeRF 2D-to-3D machine learning model placed side-by-side.

Nvidia Instant NeRF uses neural rendering to generate 3D visuals from 2D images.

NVIDIA

On 20 September, Nvidia’s Vice President of Applied Deep Learning, Bryan Cantanzaro, went to Twitter with a bold claim: In certain GPU-heavy games, like the classic first-person platformer Portal, seven out of eight pixels on the screen are generated by a new machine-learning algorithm. That’s enough, he said, to accelerate rendering by up to 5x.

This impressive feat is currently limited to a few dozen 3D games, but it’s a hint at the gains neural rendering will soon deliver. The technique will unlock new potential in everyday consumer electronics.

Keep Reading ↓Show less

Learn How Global Configuration Management and IBM CLM Work Together

In this presentation we will build the case for component-based requirements management

2 min read

This is a sponsored article brought to you by 321 Gang.

To fully support Requirements Management (RM) best practices, a tool needs to support traceability, versioning, reuse, and Product Line Engineering (PLE). This is especially true when designing large complex systems or systems that follow standards and regulations. Most modern requirement tools do a decent job of capturing requirements and related metadata. Some tools also support rudimentary mechanisms for baselining and traceability capabilities (“linking” requirements). The earlier versions of IBM DOORS Next supported a rich configurable traceability and even a rudimentary form of reuse. DOORS Next became a complete solution for managing requirements a few years ago when IBM invented and implemented Global Configuration Management (GCM) as part of its Engineering Lifecycle Management (ELM, formerly known as Collaborative Lifecycle Management or simply CLM) suite of integrated tools. On the surface, it seems that GCM just provides versioning capability, but it is so much more than that. GCM arms product/system development organizations with support for advanced requirement reuse, traceability that supports versioning, release management and variant management. It is also possible to manage collections of related Application Lifecycle Management (ALM) and Systems Engineering artifacts in a single configuration.

Keep Reading ↓Show less