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).
31 Citations
27 Claims
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1-5. -5. (canceled)
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17. A device comprising:
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a magnetic emulator operable to electrically couple to and communicate data to a read-head of a magnetic stripe reader; and a processor for controlling the magnetic emulator; wherein the magnetic emulator is operable to electrically couple to and communicate the data to the read-head when the device is located outside and within proximity of the magnetic stripe reader. - View Dependent Claims (18, 19, 20, 21, 22, 23, 24, 25, 26, 27)
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Specification