Cards and devices with multifunction magnetic emulators and methods for using same
US10255545B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Aug 1, 2016 |
| Grant date | Apr 9, 2019 |
| Priority date | — |
| Expiry date | Aug 1, 2036 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06V2201/03
- WIPO fieldComputer technology
- WIPO sectorElectrical engineering
Abstract
A payment card (e.g., credit and/or debit card) is provided with a magnetic emulator operable of communicating information to a magnetic stripe reader. Information used in validating a financial transaction is encrypted based on time such that a validating server requires receipt of the appropriate encrypted information for a period of time to validate a transaction for that period of time. Such dynamic information may be communicated using such an emulator such that a card may be swiped through a magnetic stripe reader—yet communicate different information based on time. An emulator may receive information as well as communicate information to a variety of receivers (e.g., an RFID receiver).
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.