Programmable security system and method for protecting merchandise

A programmable security system for protecting merchandise comprising:

• a programmable key having a wireless communication circuit, a memory for storing a security code, and a power source, wherein the programmable key comprises a housing enclosing the wireless communication circuit, the memory, and the power source;
• and
• a security device having a memory for storing the security code, the security device further comprising a lock mechanism and a motor;
• wherein the programmable key is configured to wirelessly communicate with the security device via the wireless communication circuit and to wirelessly transfer power from the power source to the security device by inducing an electrical current in the security device,
• wherein the lock mechanism is configured to be operated by the motor using power transferred from the programmable key to the security device when the security code stored in the memory of the security device matches the security code stored in the memory of the programmable key,
• wherein the programmable key comprises a magnetic core and a conductive wire forming a plurality of windings and electrically connected to the power source of the programmable key such that passing an electrical current through the conductive wire of the programmable key induces a magnetic field in the programmable key;
• wherein the security device comprises a magnetic core and a conductive wire forming a plurality of windings such that the magnetic field in the programmable key induces an electrical current in the conductive wire of the security device;
• and
• wherein the programmable key is adapted to transfer power from the programmable key to the security device via the magnetic field induced in the programmable key and the electrical current induced in the security device.