I always thought those were what Americans meant when they said their credit cards used magnet stripes because credit cards were rare and my country had already

I always thought those were what Americans meant when they said their credit cards used magnet stripes because credit cards were rare and my country had already moved past magnet stripes when I saw the machines in American movies as a child. Using physical imprints seems like an obvious recipe for fraud, even more than magnet stripes (which already seem reckless compared to chips).