CARDS AND DEVICES WITH MULTIFUNCTION MAGNETIC EMULATORS AND METHODS FOR USING SAME
1 Assignment
0 Petitions
Accused Products
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
16 Claims
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1-5. -5. (canceled)
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6. A device comprising:
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a circuit operable to emit an electromagnetic field and to electrically couple to, and transmit data to, a read-head located on a magnetic stripe reader; and a processor for controlling the circuit, wherein the circuit is operable to communicate the data to the read-head while located outside of the magnetic stripe reader at a distance of at least a quarter of an inch from the read-head. - View Dependent Claims (7, 8, 9, 10, 11, 12, 13, 14, 15, 16)
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Specification