Cards and devices with multifunction magnetic emulators and methods for using same
First Claim
Patent Images
1. A system comprising:
- a magnetic emulator, wherein said magnetic emulator is operable to electrically couple, and communicate data to, a read-head located on a magnetic stripe reader; and
a magnetic shielding statically located about said magnetic emulator,wherein said read-head is inoperable to receive data from said magnetic emulator when said magnetic shielding is between said magnetic emulator and said read-head.
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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
19 Claims
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1. A system comprising:
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a magnetic emulator, wherein said magnetic emulator is operable to electrically couple, and communicate data to, a read-head located on a magnetic stripe reader; and a magnetic shielding statically located about said magnetic emulator, wherein said read-head is inoperable to receive data from said magnetic emulator when said magnetic shielding is between said magnetic emulator and said read-head. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19)
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Specification