ENHANCED CREDIT CARD SECURITY APPARATUS AND METHOD
First Claim
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1. A method of verification comprising:
- providing a financial card comprising a computer readable storage medium embedded therein;
providing a dynamic portion of the computer readable storage medium as a computer writable medium;
designating the dynamic portion as the storage location of a dynamic code to be selectively read from and written to the computer readable storage medium;
receiving, by an issuer computer corresponding to an issuer of the financial card, transaction information from a first transaction in which the information from the financial card is presented as a form of payment;
receiving, by the issuer computer, a first value of the dynamic code stored in the dynamic portion;
verifying, by the issuer computer, the authenticity of the first transaction based at least in part on the receiving the first value;
deleting, by the issuer computer, the first value after the verifying; and
writing, by the issuer computer, a second value of the dynamic code to the dynamic portion.
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Abstract
A credit card, debit card, or other similar financial instrument is disclosed with the temporary assignment of a dynamic CVV for increased card security. The dynamic CVV is read, changed, and rewritten to the card with each transaction. To facilitate online purchases, a static CVV may also be provided for manual entry. Alternatively, the static CVV may be a reminder enabling a user to remember an unmarked static CVV, such as reading the digits in an order selected by a user, much like a PIN number.
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Citations
20 Claims
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1. A method of verification comprising:
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providing a financial card comprising a computer readable storage medium embedded therein; providing a dynamic portion of the computer readable storage medium as a computer writable medium; designating the dynamic portion as the storage location of a dynamic code to be selectively read from and written to the computer readable storage medium; receiving, by an issuer computer corresponding to an issuer of the financial card, transaction information from a first transaction in which the information from the financial card is presented as a form of payment; receiving, by the issuer computer, a first value of the dynamic code stored in the dynamic portion; verifying, by the issuer computer, the authenticity of the first transaction based at least in part on the receiving the first value; deleting, by the issuer computer, the first value after the verifying; and writing, by the issuer computer, a second value of the dynamic code to the dynamic portion. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A method of financial certification comprising:
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selecting a financial card comprising a computer readable storage medium embedded therein; the selecting, wherein a dynamic portion of the computer readable storage medium is also a computer writable medium; the selecting, wherein the dynamic portion is the storage location of a dynamic code to be selectively read from and written to the computer readable storage medium; presenting to a merchant computer in communication with an issuer computer, the merchant computer corresponding to a merchant in a transaction with the financial card and the issuer computer corresponding to an issuer of the financial card, first transaction information corresponding to a first transaction in which the information from the financial card is presented as a form of payment; delivering, by the financial card to the issuer computer, a first dynamic code from the dynamic portion; receiving verification from the issuer computer of the authenticity of the first transaction based at least in part on the delivering the first dynamic code; and receiving, by the financial card, from the issuer computer, a second dynamic code replacing the first dynamic code from the dynamic portion. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18)
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19. A credit transaction system comprising:
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a financial card; a transaction device; a first computer associated with a financial institution operating as an issuer of the financial card; the financial card, further provided with a computer readable storage medium storing a dynamic code; the first computer programmed to verify the authenticity of a transaction based on the transaction device reading the dynamic code and reporting to the first computer based on the dynamic code; the first computer, further programmed to send to the transaction device values to assign to the dynamic code; and the transaction device configured to read and write to the financial card the dynamic code.
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20. The credit transaction system further comprising:
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a second computer corresponding to a merchant; the second computer operably connected to communicate with the first computer; the second computer programmed to read from the financial card and provide to the second computer a first value corresponding to the dynamic code, the first value being read by the second computer from the financial card during a transaction; the second computer, further programmed to receive from the first computer a second value corresponding to the dynamic code; and the second computer, further programmed to overwrite the first value on the financial card with the second value during the transaction.
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Specification