Abstract: An automatic data collection system for recording transaction data from a point of sale terminal employs a magnetic stripe on the back of the bank copy of the familiar sales slip pack. In response to the receipt of a credit authorization number, the POS terminal is operative to transfer tansaction data from the credit card magnetic stripe to the sales slip pack magnetic stripe for automatic recordation by the credit card issuer or its designee. The arrangement obviates the need for manual key operation to record the tyransaction data at the bank.

Abstract: An apparatus constructed to receive a card such as a credit card having one or more magnetic strips containing coded data. The card is inserted in the machine and a manually operated latch mechanism carries a read head along a rail to an abutment. A latching element is automatically released and a motive system carries the read head at constant speed across the face of the card. The readout head transmits the information to a connector which may be connected to any suitable data processing system. When the card is inserted in the apparatus it energizes a contact switch which provides an activating signal to the processing system, through the connector. The readout head is mounted in a gimbaled frame attached to a carrier so that it can ride with constant pressure against the magnetic strip on the card, while at the same time adjusting itself to undulations or other slight deformations in the card or the magnetic strip.

Abstract: An apparatus is provided in which a card, such as a credit card, carrying a magnetic strip of one or more tracks of coded data is inserted. Manual operation of an external crank or lever causes the card to be drawn into the apparatus. At the end of the stroke, the carrier in which the card rides is freed from the crank and returns at a constant, spring-driven speed, past a magnetic readout head, the output of which is connected to any suitable decoding circuit. The readout head is gimbaled so that it can ride with constant pressure against the magnetic strip on the card while at the same time adjusting itself to undulations or other slight deformations in the card. There is no significant amount of magnetic material within magnetic range of the readout head, so that danger of spurious signals being injected into the decoding circuit is minimized.