ELI5: Explain Like I'm 5

Forrest Parry

Forrest Parry was a super smart guy who invented something called the magnetic stripe on the back of your credit card. That's the thing that helps the card work when you swipe it at a store or use it to buy something online.

Before Mr. Parry came up with this idea, people had to use things called paper slips to make payments, which was a lot of work and took up a lot of time.

But Mr. Parry thought of a way to use magnetic materials on the card to store information about the account and make it easier to use. It's kind of like how magnets can stick to a refrigerator, but instead of pictures, the stripe stores important data about your account.

Thanks to Mr. Parry's invention, paying for things with a credit card became much easier and faster for everyone, and we still use this technology today. How cool is that?!