Programmable transaction card
First Claim
1. A method for communicating between a financial transaction authorization center and a holder of a transaction card so as to provide verification of the transaction card and to provide access to a selected one of a plurality of accounts, said method comprising the steps of:
- selecting one of said plurality of accounts;
generating within the transaction card an account number corresponding to said selected account;
presenting said account number in a machine-readable form that is not discernible to the human eye for a predetermined period of time approximating a time required to complete a transaction;
using a reader device to read the presented account number;
after said predetermined period of time, supplying a signal to terminate said step of presenting the account number;
transmitting said account number read by said reader device to said authorization center; and
verifying said account number at said authorization center.
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Accused Products
Abstract
A programmable transaction card enables accessing a selected one of a plurality of different accounts with the same or different financial institutions through communication with an authorization center while providing important anti-fraud features. The transaction card includes a keyboard for selecting a desired account and for entering optional identification information for the card. The transaction card generates an account number corresponding to the selected account. The account number, together with the identification information, if entered, is presented in a form which is readable by a reader device but is not discernible by the human eye, e.g., by emulation of a magnetic strip. In an alternative embodiment, an optical reader can be used. Upon reading the account number and the identification information by the (e.g., magnetic) reader device during a transaction, the account number and the identification information are transmitted to the authorization center for verification and access to the selected account.
747 Citations
19 Claims
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1. A method for communicating between a financial transaction authorization center and a holder of a transaction card so as to provide verification of the transaction card and to provide access to a selected one of a plurality of accounts, said method comprising the steps of:
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selecting one of said plurality of accounts; generating within the transaction card an account number corresponding to said selected account; presenting said account number in a machine-readable form that is not discernible to the human eye for a predetermined period of time approximating a time required to complete a transaction; using a reader device to read the presented account number; after said predetermined period of time, supplying a signal to terminate said step of presenting the account number; transmitting said account number read by said reader device to said authorization center; and verifying said account number at said authorization center. - View Dependent Claims (2, 3, 4, 5)
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6. A transaction card for accessing a selected one of a plurality of different transaction accounts, said transaction card comprising:
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means for entering identification information; means for selecting one of the plurality of accounts to be accessed; means for generating an account number corresponding to the selected account; information presentation means for presenting said identification information and said account number in a machine-readable form which is not discernible by the human eye; control means for terminating presentation of said identification information and said account number after a predetermined period of time approximating a time to complete a transaction. - View Dependent Claims (7, 8, 9, 10, 11, 12)
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13. A method of conducting a financial transaction comprising the steps of:
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providing an authorized user of a financial account with an electronic transaction card having a keyboard and a memory; entering user identification information on the keyboard; entering account identification information on the keyboard; retrieving an account number from the memory; presenting the account number and user identification information in a format that is temporarily machine-readable external to the transaction card; communicating the machine-readable account number and user identification information to an authorization center; and terminating the step of presenting the account number and user identification number after a predetermined period of time approximating a time to complete a transaction. - View Dependent Claims (14)
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15. A programmable transaction card for accessing a selected one of a plurality of different transaction accounts, said transaction card comprising:
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means for selecting one of the plurality of accounts to be accessed; means for generating an account number corresponding to the selected account; information presentation means for presenting said account number in a format that is machine-readable external to the transaction card; control means for terminating presentation of said account number after a predetermined period of time approximating a time to complete a transaction. - View Dependent Claims (16, 17, 18)
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19. A method of conducting a financial transaction comprising the steps of:
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providing an authorized user of a financial account with an electronic transaction card having a keyboard and a memory; storing a plurality of account numbers in said memory; entering account identification information on the keyboard; retrieving one of the plurality of account numbers from the memory; presenting the retrieved account number in a format that is temporarily machine-readable external to the transaction card; communicating the machine-readable account number to an authorization center; and
terminating the step of presenting the account number after a predetermined period of time approximating a time to complete a transaction.
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Specification