CARDS AND DEVICES WITH MULTIFUNCTION MAGNETIC EMULATORS AND METHODS FOR USING THE SAME
First Claim
Patent Images
1. A method comprising:
- driving a magnetic emulator, located on a card, in a first manner to communicate a first data to a magnetic stripe reader; and
driving said magnetic emulator in a second manner to communicate a second data to an RFID reader.
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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
4 Claims
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1. A method comprising:
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driving a magnetic emulator, located on a card, in a first manner to communicate a first data to a magnetic stripe reader; and driving said magnetic emulator in a second manner to communicate a second data to an RFID reader. - View Dependent Claims (2, 3, 4)
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Specification