Dynamic credit card with magnetic stripe and embedded encoder and methods for using the same to provide a copy-proof credit card
US7828220B2 · kind B2 · utility
Assignee
Inventor
Key dates
| Filing date | Oct 30, 2007 |
| Grant date | Nov 9, 2010 |
| Priority date | — |
| Expiry date | Oct 30, 2027 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06K19/077
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A dynamic credit card is provided in which a secure credit card number (e.g., a secret/hidden credit card number) is encoded based on a timing signal (e.g., an internal counter) to provide a dynamic credit card number. This dynamic number may be displayed to a user via a display (e.g., so that online purchases can be made) or written onto a magnetic stripe such that the number may be processed by traditional credit card merchants (e.g., swiped). At a remote facility, the dynamic number may be decoded based on time (and/or a counter/key number/equation). Thus, a dynamic credit card number may change continually or periodically (e.g., every sixty seconds) such that credit card numbers may not be copied by thieves and used at later times. A dynamic verification code may also be utilized in addition to, or in lieu of, a dynamic credit card number.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.