System, method, and computer program product for verifying a payment device using a magnetometer
US12430653B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Nov 4, 2020 |
| Grant date | Sep 30, 2025 |
| Priority date | — |
| Expiry date | Jan 15, 2041 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG07F7/0826
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Provided are methods, systems, and computer program products for verifying a payment device using a magnetometer. The method includes detecting a magnetic signature of a payment device based on a magnetic field of the payment device affecting the magnetometer. The magnetic signature may be determined based on the structural composition of the payment device or a circuit arranged on or embedded in the payment device. The method also includes receiving payment device data for a transaction requested between an account associated with the payment device and an account of a merchant. The method further includes comparing the magnetic signature detected from the payment device with a stored magnetic signature associated with the payment device. The method further includes, in response to determining that the magnetic signatures match, approving the transaction.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.