The magnetic stripe card became popular in the 1990s, from 2000 to the present the magnetic stripe card market is gradually rising, especially in 2004 the magnetic stripe card year-on-year growth of 23%, the scope of application is more and more extensive, the initial membership management, identification, access control system gradually to the traffic, financial and other fields of development, after 2 years of development, the bank passbook basically all replaced the magnetic stripe card.

According to statistics, the number of bank magnetic stripe cards issued each year in previous years was hundreds of millions, and the share of bank cards basically accounted for 25% of the magnetic stripe card market, which became one of the profits of smart card companies. In order to prevent the public from losing their property, the magnetic stripe cards were gradually replaced by ic cards to ensure the security of the market.

IC cards are integrated circuit cards, also known as smart cards, smart cards, each card has its own system code, to copy the ic card is very difficult to do, the bank said, is expected to complete the promotion of financial ic cards in the next five years. Although the market share of magnetic stripe cards has declined, it has increased the promotion of ic cards.