Abstract: A method for decoding information contained in a waveform having a series of peaks is disclosed which is particularly directed to a method for reading a magnetic stripe for example on a card that allows the information on the stripe to be read without the need for unidirectional, single stroke swiping motion of the stripe. Features are disclosed that permit the accurate decoding of magnetic stripe data to define the bi-phase coded bits in the presence of signal degradations caused specifically, but not exclusively, by variations in the read speed including stop events and reversals. The method uses sampling of the waveform at a variable rate based upon the area of the waveform. The samples are used to locate peaks in the waveform, the profiles of which are then compared using various criteria with trained model peaks to classify the peaks into different types based upon the intersection between the different bits allowed under the bi-phase coding rules.