Using temporary data with a magnetic stripe card

A method and apparatus are disclosed for using temporary data with a magnetic stripe card to reduce incidents of fraudulent card transactions. A first set of temporary data, valid until an occurrence of an event, is generated and applied to a magnetic stripe area of a magnetic stripe card ("the...

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Bibliographic Details
Main Authors QUIGLEY OLIVER S. C, POST DANIEL JEFFREY
Format Patent
LanguageEnglish
Published 10.11.2015
Subjects
CALCULATING
CHECKING-DEVICES
COMPUTING
COUNTING
HANDLING OF COINS OR OF PAPER CURRENCY OR SIMILAR VALUABLEPAPERS, e.g. TESTING, SORTING BY DENOMINATIONS, COUNTING,DISPENSING, CHANGING OR DEPOSITING
HANDLING RECORD CARRIERS
PHYSICS
PRESENTATION OF DATA
RECOGNITION OF DATA
RECORD CARRIERS
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Summary:A method and apparatus are disclosed for using temporary data with a magnetic stripe card to reduce incidents of fraudulent card transactions. A first set of temporary data, valid until an occurrence of an event, is generated and applied to a magnetic stripe area of a magnetic stripe card ("the card"). The card can be used for a first transaction, which is authorized based on a verification that the first set of temporary data is valid, or was valid and is not expired. The transaction is processed based on an account associated with the card. The event occurs, rendering the first data item invalid, and a second set of temporary data is generated and applied to the magnetic stripe area.
Bibliography:Application Number: US201414244632