DYNAMIC CREDIT CARD WITH MAGNETIC STRIPE AND EMBEDDED ENCODER AND METHODS FOR USING THE SAME TO PROVIDE A COPY-PROOF CREDIT CARD
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Abstract
A dynamic credit card is provided in which a secure credit card number (e.g., a secret/hidden credit card number) is encoded based on a timing signal (e.g., an internal counter) to provide a dynamic credit card number. This dynamic number may be displayed to a user via a display (e.g., so that online purchases can be made) or written onto a magnetic stripe such that the number may be processed by traditional credit card merchants (e.g., swiped). At a remote facility, the dynamic number may be decoded based on time (and/or a counter/key number/equation) or the facility may have the secure number and perform the same function as the dynamic credit card (e.g., encode using time data as a parameter to the encoding equation) and compare the resultant dynamic number to the dynamic number received. Thus, a dynamic credit card number may change continually or periodically (e.g., every sixty seconds) such that credit card numbers may not be copied by thieves and used at later times. A dynamic verification code may be utilized in addition to, or in lieu of, a dynamic credit card number.
369 Citations
16 Claims
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1-9. -9. (canceled)
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10. A credit card comprising:
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a credit card number, wherein said credit card number is provided to an online store to make a purchase; and
a dynamic verification code, wherein said dynamic verification code is provided based, at least in part, on a timing signal and said dynamic verification code is provided to said online store to make said purchase.
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11. A credit card comprising:
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a dynamic credit card number, wherein said dynamic credit card number is provided to an online store to make a purchase; and
a dynamic verification code, wherein said dynamic verification code is provided to said online store to make said purchase. - View Dependent Claims (12)
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13. A credit card comprising:
a counter, wherein said counter is clocked periodically;
a first dynamic credit card number is provided when said counter reaches a first state and another dynamic credit card number is not provided again until said counter is again in said first state.
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14. A credit card comprising:
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a magnetic stripe; and
a conductive wire placed about said magnetic stripe such that said conductive wire is utilized to write information to said magnetic stripe. - View Dependent Claims (15)
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16. A system comprising:
a circuit on a credit card that induces negative and positive voltages in a credit card reader, wherein said credit card reader utilizes said negative and positive voltages to provide a dynamic credit card number, coded from a secure number, to an authorization facility.
Specification