Claim: IBM invented the magnetic stripe card in 1986.
Evidence: Inventions by IBM include the automated teller machine -LRB- ATM -RRB- , the PC , the floppy disk , the hard disk drive , the magnetic stripe card , the relational database , the SQL programming language , the UPC barcode , and dynamic random-access memory -LRB- DRAM -RRB-.
In 1960 IBM used the magnetic tape idea to develop a reliable way of securing magnetic stripes to plastic cards , under a contract with the US government for a security system.