Payment card with internally generated virtual account numbers for its magnetic stripe encoder and user display
First Claim
Patent Images
1. A payment card comprising:
- a plastic carrier with the dimensions of a credit card;
a magnetic stripe disposed in a rear surface providing for a combination of fixed, permanent data bits and programmable data bits in one magnetic data to be read by an external legacy card reader;
a magnetic array positioned in the magnetic stripe and providing for one part of a virtual account number (VAN) to be internally updated in said programmable data bits of said magnetic data from below without assistance from an external device; and
a VAN generator embedded in the plastic carrier and connected to communicate at least some part of said VAN to the magnetic array;
wherein, each new VAN belongs to a sequence of numbers that can be predicted and used to authenticate a transaction instigated through an external legacy card reader.
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Abstract
A payment card comprises an internal virtual account number generator and a user display for online transactions. Offline transactions with merchant card readers are enabled by a magnetic array positioned behind the card'"'"'s magnetic stripe on the back. The internal virtual account number generator is able to program the magnetic bits encoded in the magnetic stripe to reflect the latest virtual account number. The internal virtual account number generator produces a sequence of virtual numbers that can be predicted and approved by the issuing bank. Once a number is used, it is discarded and put on an exclusion list.
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Citations
10 Claims
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1. A payment card comprising:
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a plastic carrier with the dimensions of a credit card; a magnetic stripe disposed in a rear surface providing for a combination of fixed, permanent data bits and programmable data bits in one magnetic data to be read by an external legacy card reader; a magnetic array positioned in the magnetic stripe and providing for one part of a virtual account number (VAN) to be internally updated in said programmable data bits of said magnetic data from below without assistance from an external device; and a VAN generator embedded in the plastic carrier and connected to communicate at least some part of said VAN to the magnetic array; wherein, each new VAN belongs to a sequence of numbers that can be predicted and used to authenticate a transaction instigated through an external legacy card reader. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A circuit for internally programming data bits beneath a magnetic stripe, comprising:
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a longitudinal magnetic stripe disposed on the surface of a substrate and providing for the retention of a sequence of magnetically recorded data bits; a plurality of coils each associated in parallel with corresponding ones of the sequence of magnetically recorded data bits, and embedded beneath the magnetic stripe; a multiplexer for selecting three adjacent coils at a time; a set of three capacitors to hold programming charges that are addressed through the multiplexer and discharged to said three adjacent coils in each programming step; and a sequencer to advance an address for the multiplexer and ultimately providing for a complete programming of all programmable data bits in the magnetic stripe.
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9. A method for programming a sequence of magnetically recorded data bits in a longitudinal magnetic stripe disposed on the surface of a substrate, wherein a plurality of addressable coils are each associated in parallel with corresponding ones of the sequence of magnetically recorded data bits and embedded beneath the magnetic stripe, and a set of three capacitors are used to hold programming charges that are addressed through the multiplexer and discharged into sets of three adjacent coils in each of a series of programming steps.
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10. A payment card system, comprising:
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a payment card; a virtual account number generator internal to the payment card; a user display for online transactions disposed on the payment card; a magnetic array positioned in a programmable part of a magnetic stripe disposed on the payment card; a magnetic recording that is a combination of fixed, permanent data bits disposed in said magnetic stripe, and programmable data bits from the magnetic array, and providing for offline transactions with merchant card readers; wherein, the internal virtual account number generator is able to program the magnetic bits encoded in the magnetic stripe to reflect a latest virtual account number, and the internal virtual account number generator produces a sequence of virtual numbers that can be predicted and approved by an issuing bank, and once a number is used, it is discarded and put on an exclusion list; and wherein, the security level of an unchanging part of the virtual account number represented by said fixed, permanent data bits is increased by including an expiration date field.
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Specification