Method for Conducting a Transaction Between a Magnetic Stripe Reader and an Electronic Card

A method for communicating with a magnetic stripe reader having a magnetic read head, comprising the steps of:

• activating an electronic apparatus from an off state to a reduced power mode;
• detecting the magnetic stripe reader;
• activating the electronic apparatus from the reduced power mode to a full power mode after detection of the magnetic read head;
• and
• broadcasting a signal that contains a transaction specific data packet that is read by the magnetic read head;
• wherein the signal is a time varying and spatial varying magnetic field that is interpreted by the magnetic read head as originating from a standard magnetic stripe;
• and
• wherein the signal is generated by a magnetic stripe broadcaster comprised of a track 1 flex encoder that transmits data that is read by a track 1 read head of the magnetic read head and a track 2 magnetic flex encoder that transmits data that is read by a track 2 read head of the magnetic read head.