Payment card with internally generated virtual account numbers for its magnetic stripe encoder and user display
US7472829B2 · kind B2 · utility
548Cited by
13References
10Claims
0Family size
Assignee
Inventor
Key dates
| Filing date | Dec 8, 2005 |
| Grant date | Jan 6, 2009 |
| Priority date | — |
| Expiry date | Apr 19, 2027 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG07F7/0833
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A payment card comprises an internal virtual account number generator and a user display for online transactions. Offline transactions with merchant card readers are enabled by a magnetic array positioned behind the card's magnetic stripe on the back. The internal virtual account number generator is able to program the magnetic bits encoded in the magnetic stripe to reflect the latest virtual account number. The internal virtual account number generator produces a sequence of virtual numbers that can be predicted and approved by the issuing bank. Once a number is used, it is discarded and put on an exclusion list.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.