Method and Device for Processing Payment Card Information

A device for securely processing payment card information comprising:

• a networked device for transmitting a known first signal to a card reader and for receiving on the networked device from the card reader a second signal, the second signal being created by applying a function to the first signal and a third signal generated by the card reader that is indicative of information stored on a payment card;
• and
• upon the receipt of the second signal, deriving the third signal by using the second signal, the known first signal, and the inverse function of the function applied to the first signal and the third signal to create the second signal.

A method for securely processing payment card information comprising:

• receiving a known first signal on a card reader from a networked device,
• transmitting a second signal from the card reader to the networked device, the second signal being created by applying a function to the first signal and a third signal generated by the card reader that is indicative of information stored on a payment card;
• wherein the known first signal and the inverse function of the function applied to the first signal and the third signal can be used to derive the third signal from the second signal.

A device for securely processing payment card information comprising:

• a card reader for receiving a known first signal from a networked device and for transmitting to the networked device a second signal, the second signal being created by applying a function to the first signal and a third signal generated by the card reader that is indicative of information stored on a payment card;
• and
• wherein the known first signal and the inverse function of the function applied to the first signal and the third signal can be used to derive the third signal from the second signal.

A method for securely processing payment card information comprising:

• transmitting a known first signal and a known second signal from a networked device to a card reader,
• receiving a third signal on the networked device from the card reader, the third signal being created by applying a function to the first signal, the second signal, and a fourth signal generated by the card reader that is indicative of information stored on a payment card;
• upon the receiving of the third signal, deriving the fourth signal by using the second signal, the third signal, the known first signal, and the inverse function of the function applied to the first signal, second signal and the fourth signal to create the third signal.

A method for securely processing payment card information comprising:

• receiving a known first signal and a known second signal on a card reader from a networked device,
• transmitting a third signal from the card reader to the networked device, the third signal being a function of the first signal, the second signal and a fourth signal generated by the card reader that is indicative of information stored on a payment card;
• wherein the known first signal, the known second signal, and the inverse function of the function applied to the known first signal the known second signal and the fourth signal can be used to derive the fourth signal from the third signal.