Something like a Bar Code scanner

I need a small electronic component(s) that I can build into a motorized magnetic card reader so that I can read something like a bar code off the card.

The idea is that a proprietary code similar to a bar code will be printed down the centre of a card similar to a magnetic bank card.  When the card is inserted into a card reader similar to an Automated Teller Machine (ATM) at a bank, this device will generate pulses or something which I can read to interpret what is on the card.

I'm sure that whatever they use in a barcode wand to read a bar code will do the job, but I don't know what the component is called or where to look for it.

Any assistance will be greatly appreciated.

AKB
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