A cursor control unit for controlling the position of a cursor on a display that has a magnetic stripe or smart card reader for reading information from an information bearing credit or debit card. The cursor control unit has a device for communicating information for controlling the movement of the cursor and card information to a personal computer or work station. Optionally, the cursor control unit encrypts the card information read by a reader on the cursor control unit. The link is a wireless communication link(s), a hardwired communication link(s), or a combination thereof. A method of simplifying and safeguarding the entry of monetary transaction information from information bearing credit cards and debit cards is also provided. The method comprises the step of providing the individuals making monetary transactions with a cursor control unit for controlling the movement of a cursor. An optional encryption step is provided in which respective card information is encrypted at the cursor control unit, along the communication link, on the electrical connector of the cursor control unit, computer, or combination thereof. In a variant, the method comprises the steps of multiple encryptions of the card information, or portion thereof, prior to transmission of the card information to the computer network.