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Transaction card with magnetic stripe emulator

  • US 4,701,601 A
  • Filed: 04/26/1985
  • Issued: 10/20/1987
  • Est. Priority Date: 04/26/1985
  • Status: Expired due to Term
First Claim
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1. A new transaction card having magnetic stripe emulator for use with a transaction terminal intended to interface with standard transaction cards, said standard transaction cards having a magnetic stripe formed thereon and with said terminal having a sensor means for reading transaction information encoded on the magnetic stripe on a standard card, said new card comprising:

  • a carrier configured to be receivable in the transaction terminal;

    processor means within said carrier for generating electrical output signals;

    storage means within said carrier and connected to said processor means, said storage means for holding data representative of transaction information; and

    transducer means within said carrier and connected to said processor means, said transducer means for generating a varying magnetic field, extending beyond the surface of the carrier, in response to electrical output signals from said processor means, said transducer means being positioned on said carrier to be in alignment with the sensor means of the terminal when said carrier is received in the terminal, with said processor means functioning to extract said data from said storage means and generate and supply output signals to the transducer means, and with the transducer means functioning to generate a varying magnetic field readable by the sensor means in the terminal, said varying magnetic field emulating the varying magnetic field which would exist at the sensor means of the terminal if the magnetic stripe of a standard card having transaction information encoded thereon was scanned by the sensor means.

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