System, method and computer program product for updating a reference magnetic signature of a magstripe card
AssigneeAmerican Express Travel Related Services Company, Inc.
InventorsMichael Donovan, Michael Mulder, Douglas Myers, Ian Webb
Life of this patent
Estimating the term…
Abstract
The present invention provides systems, methods and computer program products for updating a reference magnetic signature of a magstripe card. In one embodiment, magnetic signatures from a magstripe card, each previously captured from a terminal during a transaction are retrieved from a database. The magnetic signatures are examined to identify if the magnetic properties of the magstripe card have changed. If a change is detected, a new reference magnetic signature is selected and/or created based on the magnetic signatures examined to identify the change and assigned to the magstripe card.
Claims15
A method for updating a reference magnetic signature associated with a transaction instrument, comprising the steps of:
- retrieving a plurality of magnetic signatures, each being associated with the transaction instrument and captured during a transaction;
- identifying at least one difference between the plurality of magnetic signatures and the reference magnetic signature;
- selecting a new reference magnetic signature for the transaction instrument based on the plurality of magnetic signatures when the at least one difference is identified;
- and
- storing the new reference magnetic signature;
- whereby the new reference magnetic signature may be used as a reference magnetic signature for subsequent transactions.
A system for updating a reference magnetic signature associated with a transaction instrument comprising:
- a processor;
- and
- a memory in communication with the processor, wherein the memory stores a plurality of processing instructions for directing the processor to:
- retrieve a plurality of magnetic signatures, each being associated with the transaction instrument and captured during a transaction;
- identify at least one difference between the plurality of magnetic signatures and the reference magnetic signature;
- select a new reference magnetic signature for the transaction instrument based on the plurality of magnetic signatures when the at least one difference is identified;
- and
- store the new reference magnetic signature;
- whereby the new reference magnetic signature may be used as a reference magnetic signature for subsequent transactions.
A computer program product comprising a computer usable medium having control logic stored therein for causing a computer to update a reference magnetic signature associated with a transaction instrument, said control logic comprising:
- first computer readable program code means for causing the computer to retrieve a plurality of magnetic signatures, each being associated with the transaction instrument and captured during a transaction;
- second computer readable program code means for causing the computer to identify at least one difference between the plurality of magnetic signatures and the reference magnetic signature;
- third computer readable program code means for causing the computer to select a new reference magnetic signature for the transaction instrument based on the plurality of magnetic signatures when the at least one difference is identified;
- and
- fourth computer readable program code means for causing the computer to store the new reference magnetic signature;
- whereby the new reference magnetic signature may be used as a reference magnetic signature for subsequent transactions.
Dependencies are inferred from the claim text.