Memory only cards work based on:

A.
Something you have.

B.
Something you know.

C.
None of the choices.

D.
Something you know and something you have.

Explanation:
Memory Only Card – This type of card is the most common card. It has a magnetic stripe
on the back. These cards can offer two-factor authentication, the card itself
(something you have) and the PIN (something you know). Everyone is familiar with the
use of an ATM (Automated Teller Machine) card. These memory cards are very easy to
counterfeit. There was a case in Montreal where a storeowner would swipe the card
through for the transaction; he would then swipe it through a card reader to get a
copy, while a small hidden camera was registering the PIN as the user was punching it
on the pad. This scheme was quickly identified as the victims had one point in common;
they all visited the same store.