WordNet (r) 3.0 (2006):

paper tape
    n 1: a long narrow strip of paper

The Free On-line Dictionary of Computing (30 December 2018):

paper tape

    Punched paper tape.  An early
   input/output and storage medium borrowed from telegraph
   and teletype systems.

   Data entered at the keyboard of the teletype could be directed
   to a perforator or punch which punched a pattern of holes
   across the width of a paper tape to represent the characters
   typed.  The paper tape could be read by a tape reader feeding
   the computer.  Computer output could be similarly punched onto
   tape and printed off-line.

   As well as storage of the program and data, use of paper tape
   enabled batch processing.

   The first units had five data hole positions plus a sprocket hole
   (for the driving wheel) across the width of the tape.  These used
   commercial telegraph code (ITA2 also known as Murray), Baudot
   code or proprietary codes such as Elliott which were more
   programmer-friendly.  Later systems had eight data holes and used
   ASCII coding.

   (2003-12-02)