Wireless transaction medium having combined magnetic stripe and radio frequency communications

Patent metadata

Field	Value
Publication number	US-2016196547-A1
Application number	US-201615072862-A
Country	US
Kind code	A1
Filing date	Mar 17, 2016
Priority date	Oct 27, 2006
Publication date	Jul 7, 2016
Grant date	—

Abstract

A wireless financial transaction instrument, such as a card, has a magnetic stripe, a display, and an on-board power supply, such as a battery, and is usable with a dual capture point of sale terminal. Information is received by such a terminal from the card wirelessly, and also from the magnetic stripe, and the data received contactlessly is preferably used to verify that read from the stripe. The display can display the account number on command, or to display a current balance, or amount of credit remaining, or any combination of these items of information.

First claim

1 .- 20 . (canceled)

21 . A mobile electronic device, comprising:
a processor; a wireless interface; a non-transitory computer readable medium having instructions stored thereon that are executable by the processor to cause the mobile electronic device to perform operations comprising:
generating, based on seed data and an algorithm stored on the mobile electronic device, a first numeric code;
transmitting the first numeric code within a first request to authorize a first transaction, wherein the first request indicates that the first transaction has been initiated by a user of the mobile electronic device, and wherein the first numeric code corresponds to a transaction account;
generating, based on the seed data and the algorithm, a second numeric code;
subsequent to transmitting the first request, transmitting a second request to authorize a second transaction that has been initiated by the user, wherein the second request includes the second numeric code; and
based on information indicating that the second transaction has been authorized based on the second numeric code, the mobile electronic device providing to the user status information indicative of whether the second transaction has been authorized;
wherein the algorithm is configured to generate the first numeric code and second numeric code as including a shared common portion that is indicative of an issuer of the transaction account.

22 . The mobile electronic device of claim 21 , wherein the seed data includes a starting account code number provided by an issuer of the transaction account.

23 . The mobile electronic device of claim 21 , further comprising an authentication circuit configured to encrypt the first and second numeric codes prior to their transmissions.

24 . The mobile electronic device of claim 21 , wherein the wireless interface is configured to receive RFID interrogation signals that request account code information for transactions to be completed.

25 . A method, comprising:
transmitting to a computer system, by a mobile electronic device of a user, a first request to authorize a first transaction, wherein the first request indicates that the first transaction has been initiated by the user, and wherein the first request includes an account code corresponding to a transaction account; subsequent to transmitting the first request, the mobile electronic device transmitting a second request to authorize a second transaction that has been initiated by the user, wherein the second request includes an updated account code corresponding to the transaction account, wherein the account code and the updated account code share a common portion that is indicative of an issuer of the transaction account; and based on information indicating that the second transaction has been authorized based on the updated account code, the mobile electronic device providing to the user a status indicative of whether the second transaction has been authorized.

26 . The method of claim 25 , further comprising the mobile electronic device generating the updated account code based on an algorithm stored on a computer readable medium accessible to the mobile electronic device.

27 . The method of claim 26 , wherein an output of the algorithm is based on seed data that is provided by an issuer of the account code and that is stored by the mobile electronic device.

28 . The method of claim 25 , further comprising the mobile electronic device receiving an interrogation signal from the first computer system via a wireless interface adapter prior to the mobile electronic device transmitting the first request.

29 . The method of claim 28 , wherein the interrogation signal includes data encrypted with a key corresponding to the mobile electronic device.

30 . The method of claim 25 , wherein the first computer system authenticates the mobile electronic device based on a unique identifier corresponding to the mobile electronic device.

31 . The method of claim 25 , wherein the mobile electronic device comprises a processor, a memory, and a wireless communications system.

32 . The method of claim 25 , further comprising the mobile electronic device using an authentication circuit to encrypt the updated account code prior to transmitting the updated account code.

33 . The method of claim 25 , wherein the common portion is a four digit sequence that forms an initial portion of the account code and the updated account code.

34 . The method of claim 25 , wherein the mobile electronic device is configured to not re-use any account code it has previously transmitted a pre-determined number of times.

35 . An article of manufacture including a non-transitory computer-readable medium having instructions stored thereon that, in response to execution by a processor of a mobile transaction device, cause the mobile transaction device to perform operations comprising:
transmitting to a computer system a first request to authorize a first transaction, wherein the first request indicates that the first transaction has been initiated by a user, and wherein the first request includes an account code corresponding to a transaction account; subsequent to transmitting the first request, generating an updated account code based on an algorithm and seed data stored by the mobile transaction device, wherein the algorithm is configured to generate account codes that share a common numeric sequence; transmitting a second request to authorize a second transaction that has been initiated by the user, wherein the second request includes the updated account code; and based on information indicating that the second transaction has been authorized based on the updated account code, providing to the user a status indicative of whether the second transaction has been authorized.

36 . The article of manufacture of claim 35 , wherein the operations further comprise providing a visual indication of the updated account code to the user.

37 . The article of manufacture of claim 35 , wherein the operations further comprise erasing the account code from a storage location of the mobile transaction device and replacing it with the updated account code.

38 . The article of manufacture of claim 35 , wherein transmitting the first and second requests is performed wirelessly.

39 . The article of manufacture of claim 35 , wherein generating the updated account code is based on a current date on which the generating occurs.

Assignees

• Iii Holdings 1 Llc

Inventors

• Bonalle David S
• Donovan Michael D
• Jackson Sherrie G
• Paylor Scott Glen
• Senghore Medina J
• Thomas Tracey R

Classifications

• G06K19/00

  Record carriers for use with machines and with at least a part designed to carry digital markings · CPC title

• G06K19/06187 Primary

  with magnetically detectable marking · CPC title

• G06K19/10

  at least one kind of marking being used for authentication, e.g. of credit or identity cards (verification of coded identity or credit cards in mechanisms actuated by them G07F7/12) · CPC title

• G06Q10/02

  Reservations, e.g. for tickets, services or events · CPC title

• G06Q20/3415

  Cards acting autonomously as pay-media · CPC title