• Patent Title: Dynamic credit card with magnetic stripe and embedded encoder and methods for using the same to provide a copy-proof credit card
  • Application No.: US11927629
    Application Date: 2007-10-29
  • Publication No.: US07954705B2
    Publication Date: 2011-06-07
  • Inventor: Jeffrey David Mullen
  • Applicant: Jeffrey David Mullen
  • Applicant Address: US PA Pittsburgh
  • Assignee: Dynamics Inc.
  • Current Assignee: Dynamics Inc.
  • Current Assignee Address: US PA Pittsburgh
  • Main IPC: G06K5/00
  • IPC: G06K5/00
Dynamic credit card with magnetic stripe and embedded encoder and methods for using the same to provide a copy-proof credit card
Abstract:
A dynamic credit card is provided in which a secure credit card number (e.g., a secret/hidden credit card number) is encoded based on a timing signal (e.g., an internal counter) to provide a dynamic credit card number. This dynamic number may be displayed to a user via a display (e.g., so that online purchases can be made) or written onto a magnetic stripe such that the number may be processed by traditional credit card merchants (e.g., swiped). At a remote facility, the dynamic number may be decoded based on time (and/or a counter/key number/equation). Thus, a dynamic credit card number may change continually or periodically (e.g., every sixty seconds) such that credit card numbers may not be copied by thieves and used at later times. A dynamic verification code may also be utilized in addition to, or in lieu of, a dynamic credit card number.
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