Cards and devices with multifunction magnetic emulators and methods for using same
DCFirst Claim
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1. An apparatus comprising:
- a structure for receiving manual input;
a dynamic magnetic stripe communication device; and
a processor for controlling the dynamic magnetic stripe communication device,wherein the dynamic magnetic stripe communication device is operable to electrically couple to a payment terminal when the dynamic magnetic stripe communication device is located outside and within proximity of the payment terminal and to serially communicate first magnetic stripe track data and second magnetic stripe track data while electrically coupled to the payment terminal.
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Abstract
A payment card (e.g., credit and/or debit card) is provided with a magnetic emulator operable of communicating information to a magnetic stripe reader. Information used in validating a financial transaction is encrypted based on time such that a validating server requires receipt of the appropriate encrypted information for a period of time to validate a transaction for that period of time. Such dynamic information may be communicated using such an emulator such that a card may be swiped through a magnetic stripe reader—yet communicate different information based on time. An emulator may receive information as well as communicate information to a variety of receivers (e.g., an RFID receiver).
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Citations
22 Claims
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1. An apparatus comprising:
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a structure for receiving manual input; a dynamic magnetic stripe communication device; and a processor for controlling the dynamic magnetic stripe communication device, wherein the dynamic magnetic stripe communication device is operable to electrically couple to a payment terminal when the dynamic magnetic stripe communication device is located outside and within proximity of the payment terminal and to serially communicate first magnetic stripe track data and second magnetic stripe track data while electrically coupled to the payment terminal. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22)
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Specification