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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Accused Products
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.
276 Citations
23 Claims
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1-16. -16. (canceled)
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17. A method comprising:
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wirelessly communicating, from a payment card, a credit card number; wirelessly receiving, on said payment card, information via a light-based communications signal; and utilizing said credit card number to complete a purchase transaction. - View Dependent Claims (18, 19, 20, 21)
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22. A method comprising:
wirelessly receiving, on a payment card, information via an infrared communications signal, wherein software on said payment card is updated based on said received information. - View Dependent Claims (23)
Specification