Decoding system coupled to a payment system that includes a cryptographic key

US8678277B2 · kind B2 · utility

Assignee

• INC SQUARE, CO., LTD · JP

Inventors

• Jack Dorsey · San Francisco, US
• William Henderson · San Francisco, US
• Brian Grassadonia · San Francisco, US
• James M. McKelvey · Miami, US
• Xuancong Wen · San Francisco, US

Key dates

• Filing date: Mar 14, 2013
• Grant date: Mar 25, 2014
• Expiry date: Mar 14, 2033

Classification

• Technology area (CPC G): Physics
• CPC primary: G07F7/0886
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A decoding system includes a decoding engine running on a mobile device that decodes signals produced from a read of a first party's financial transaction card. The decoding engine accepts and initializes incoming signals from a read of the first party's financial transaction card until the signals reach a steady state, detects the read once the incoming signals are in a steady state, identifies peaks in the incoming signals and digitizes the identified peaks in the incoming signals into bits. A transaction engine runs on the mobile device and is coupled to the decoding engine. The transaction engine receives as its input decoded first party's financial transaction card information from the decoding engine, and serves as an intermediary between the first party and a second party, so that the first party does not have to share his/her financial transaction card information with the second party.