System and method for transmitting track 1/track 2 formatted information via Radio Frequency

• US 20050038736A1
• Filed: 06/24/2004
• Published: 02/17/2005
• Est. Priority Date: 07/10/2001
• Status: Active Grant

• Current Assignee: Liberty Peak Ventures, LLC (Dominion Harbor Enterprises, LLC)
• Original Assignee: Xatra Fund MX LLC (Intellectual Ventures LLC)
• Inventors: Saunders, Peter D.
• Granted Patent: US 7,639,116 B2
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/00 Payment architectures, schemes or protocols apparatus for performing or posting payment transactions G07F7/08, G07F19/00; electronic cash registers G07G1/12
• CPC Class Codes: G06Q 20/027 involving a payment switch or gateway
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/08 Payment architectures
• CPC Class Codes: G06Q 20/085 involving remote charge determination or related payment systems
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/14 specially adapted for billing systems
• CPC Class Codes: G06Q 20/327 Short range or proximity payments by means of M-devices
• CPC Class Codes: G06Q 20/367 involving electronic purses or money safes
• CPC Class Codes: G06Q 20/382 insuring higher security of transaction
• CPC Class Codes: G06Q 20/3821 Electronic credentials
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 20/401 Transaction verification
• CPC Class Codes: G07C 9/29 the pass containing active electronic elements, e.g. smartcards

Abstract

A transponder-reader transaction completion system includes a Radio Frequency (RF) operable reader for interrogating a RF operable transaction device via RF communication, wherein the transaction device is operable to provide an account number in ISO/IEC 7816 magnetic stripe Track1/Track 2 format to the RF reader via RF communication. The RF reader is additionally operable to provide an account number in ISO/IEC 7816 magnetic stripe Track1/Track 2 format to a merchant system for use in transaction completion.

Claims

1. A transponder-reader transaction system, comprising:

a. a transponder system responsive to a Radio Frequency (RF) interrogation signal, said transponder system operable to provide an account number via RF communication, said transponder system operable to provide said account number in ISO/IEC 7816 magnetic stripe Track1/Track 2 format;

b. a RF reader in RF communication with said transponder system, said RF reader operable to provide an interrogation signal to said transponder system and receive said account number via RF communication; and

c. a transaction completion system in communication with said RF reader for receiving said account number.

2. A transponder-reader transaction system, comprising:

a. a transponder system responsive to a Radio Frequency (RF) interrogation signal, said transponder system operable to provide an account number via RF communication;

b. a RF reader in RF communication with said transponder system, said RF reader operable to provide an interrogation signal to said transponder system and receive said account number via RF communication, said RF reader operable to provide said account number in ISO/IEC 7816 magnetic stripe Track1/Track 2 format; and

c. a transaction completion system in communication with said RF reader for receiving said account number.

3. A method for transmitting an account number via Radio Frequency (RF) communication to facilitate transaction completion, comprising:

providing a transaction device, said transaction device operable to provide an account number via RF communication, said transaction device operable to provide said account number in ISO/IEC 7816 magnetic stripe Track1/Track 2 format.

4. A method for transmitting an account number via Radio Frequency (RF) communication comprising:

providing a transaction device, said transaction device operable to provide an account number via RF communication,

providing a RF reader in RF communication with said transaction device, said RF reader operable to provide said account number in ISO/IEC 7816 magnetic stripe Track1/Track 2 format to facilitate transaction completion.