A magstripe transaction begins with a quick swipe of the card through a card reader. The transaction is either approved or declined.
This method is extremely risky since it does not require you to enter a PIN code. For this reason, we highly recommend the Chip & PIN method when it is available.
In case you prefer to use magstripe or Chip & PIN is unavailable, you can enable magstripe payment method by logging in to your Simplex Banking account here: https://account.simplex.com/login?1 and clicking on the card icon at the top right corner.
You can find the limits and fees applied for this payment method here:
Limits: What are limits for Simplex branded card transactions?
Fees: What are the fees for Simplex branded card transactions?