Using temporary data with a magnetic stripe card
US9183480B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Apr 3, 2014 |
| Grant date | Nov 10, 2015 |
| Priority date | — |
| Expiry date | Apr 3, 2034 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG07F7/0873
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A method and apparatus are disclosed for using temporary data with a magnetic stripe card to reduce incidents of fraudulent card transactions. A first set of temporary data, valid until an occurrence of an event, is generated and applied to a magnetic stripe area of a magnetic stripe card (“the card”). The card can be used for a first transaction, which is authorized based on a verification that the first set of temporary data is valid, or was valid and is not expired. The transaction is processed based on an account associated with the card. The event occurs, rendering the first data item invalid, and a second set of temporary data is generated and applied to the magnetic stripe area.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.