Terminal for magnetic secure transmission
US9864994B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Dec 28, 2015 |
| Grant date | Jan 9, 2018 |
| Priority date | — |
| Expiry date | Dec 28, 2035 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/409
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Devices, systems, and methods for securely converting a user's existing static payment card data into dynamic card data that can be authenticated by card issuers or by a stand-in service provider, such as a payment network or processor without requiring the card issuers to make infrastructure changes. The dynamic data can be provisioned onto a magnetic secure transmission device (MST) either directly from a card issuer or using a swiper type device. Devices, systems, and methods are also disclosed for securely provisioning a dynamic card onto the MST by the card issuer. These dynamic cards may be used to transmit modified one-time-use card track data from the MST to a point of sale using a dynamic-CVV methodology to provide higher levels of security during a transaction.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.