Ron Klien, also known as the “Grandfather of Possibilities” is an exceptional entrepreneur, business consultant, mentor and inventor. “I solve situations by simplifying them”, says Klein. At 77, the Philadelphia native is the inventor of the magnetic strip found on nearly all of today’s credit cards. The “validity checking system” as his patent reads is a magnetic strip on the back of a plastic card that functions much like a cassette recorder. Rather than recording sounds the magnetic strip records characters that can be ‘played’ into a credit card swipe reader. Read more of this article »
Posted in Uncategorized Tagged with: credit card, electronic device, magnetic strip, MasterCard, merchant account, process, reader, swipe reader, terminal, Visa MasterCard American Express
