The first electronic payment terminals were created to read these magstripe cards. The technology made it possible to conduct increasingly secure transactions, control the account balance of the customer, and accept or refuse a transaction on the spot.
In 1973, the first electronic transaction authorisation system was created in the United States, linking merchants to the Visa data centre in California.
It was, however, necessary to wait for the 1980s to see the spread of the electronic payment terminal connected to the Visa and Mastercard networks.
With the magnetic stripe system, the transaction was already electronic. However, signing to authorise a receipt issued by the merchant was still a requirement at the end of the transaction after the card was inserted in the terminal.