AUTHORIZING THE USE OF A TRANSACTION CARD

• US 20120280048A1
• Filed: 05/05/2011
• Published: 11/08/2012
• Est. Priority Date: 05/05/2011
• Status: Active Grant

• Current Assignee: SNKP Corporation
• Original Assignee: Moon J. Kim
• Inventors: Kim, Moon J.
• Granted Patent: US 8,596,549 B2
• Time in Patent Office: Days
• US Class Current: 235/493
• CPC Class Codes: G06K 19/06206 the magnetic marking being emulated
• CPC Class Codes: G06K 19/145 at least one of the further markings being adapted for galvanic or wireless sensing, e.g. an RFID tag with both a wireless and an optical interface or memory, or a contact type smart card with ISO 7816 contacts and an optical interface or memory

Abstract

Embodiments of the present invention provide systems and methods for validating a user of a transaction card. Specifically, embodiments of the present invention utilize dynamic manipulation of a transaction card to authorize use of the card. In a typical embodiment, the cardholder approaches a magnetic reader with the card. The card is powered up by an embedded radio frequency identification (RFID) antenna in a magnetic field. The cardholder enters a user authorization code using an input method. The entry is compared against the predefined user authorization code. If the entry is invalid, an unauthorized code is put on virtual ferromagnetic cells (VFC) embedded in the card. If the entry is valid, legitimate card information is put into the VFC. When the card is swiped, magnetic information on the VFC is coupled, amplified, and recorded to the reader. After cardholder use, the VFC are reset to a random or unauthorized mode.

Claims

1. A method of authorizing the use of a transaction card having a set of ferromagnetic cells, comprising:

generating processing power for manipulating the set of ferromagnetic cells;

receiving an authorization code as input from a user;

comparing the input with a predefined value; and

putting an authorization mode on the set of ferromagnetic cells by manipulating the set of ferromagnetic cells based on the result of the comparison.

2. The method of claim 1, further comprising putting legitimate card information on the set of ferromagnetic cells by manipulating the set of ferromagnetic cells when the result of the comparison is a match.

3. The method of claim 1, further comprising putting an unauthorized mode on the set of ferromagnetic cells by manipulating the set of ferromagnetic cells when the card is not in use.

4. The method of claim 1, further comprising generating power for communication with a magnetic reader.

5. The method of claim 1, further comprising communicating the information on the set of ferromagnetic cells with a magnetic reader.

6. The method for authorizing the use of a transaction card having a set of magnetic cell coils, comprising:

generating processing power for manipulating the set of magnetic cell coils;

receiving an authorization code as input from a user;

comparing the input with a predefined value; and

putting an authorization mode on the set of magnetic cell coils by manipulating the set of magnetic cell coils based on the result of the comparison.

7. The method of claim 6, further comprising putting legitimate card information on the card by manipulating the set of magnetic cell coils when the input matches the predefined value.

8. The method of claim 6, further comprising generating power for communication with a magnetic reader.

9. The method of claim 6, further comprising communicating the information on the set of magnetic cell coils with a magnetic reader.

10. A dynamic transaction card having a set of ferromagnetic cells used for authorizing the use of the card, comprising:

a power source;

a user input component configured to accept an authorization code as input from a user;

a processing component configured to compare the input with a predefined value; and

a manipulation control component configured to set an authorization mode by manipulating the set of ferromagnetic cells using an electrically inducted magnetic field based on the result of the comparison.

11. The card of claim 10, wherein user input component is one of an on/off switch array, a rotary dial array, and an imaging array.

12. The card of claim 10, wherein the manipulation control component is further configured to manipulate the ferromagnetic cells to include predefined card information when the result of the comparison is a match.

13. The card of claim 10, wherein the power source is generated from electrical contacts.

14. The card of claim 10, wherein the manipulation component is further configured to set an unauthorized mode by manipulating the set of ferromagnetic cells when the card is not in use.

15. A dynamic transaction card having a set of magnetic cell coils used for authorizing the use of the card, comprising:

a power source;

a user input component configured to accept an authorization code as input from a user;

a processing component configured to compare the input with a predefined value; and

a manipulation control component configured to set an authorization mode by manipulating the set of magnetic cell coils using an electrically inducted magnetic field based on the result of the comparison.

16. The card of claim 15, wherein the user input component is one of an on/off switch array, a rotary dial array, and an imaging array.

17. The card of claim 15, wherein the manipulation component further configured to manipulate the magnetic cell coils to include predefined card information when the result of the comparison is a match.

18. The card of claim 15, wherein the power source is generated from an electrically inducted magnetic field created between an inductive transducer and a magnetic reader.

19. The card of claim 15, wherein the power source is generated from electrical contacts.

20. The card of claim 18, wherein the inductive transducer further configured to communicate with the magnetic reader using the electrically inducted magnetic field.