An enabling card and method and system using the enabling card in a pos

A system for completing a financial transaction through a P.O.S. terminal comprising:

• a) a mobile phone having an app for containing encrypted credit card authorization information;
• b) an enabling card comprising.
• CPU;
• a
• a communication module for establishing a connection with the mobile phone app;
• and
• two spaced coils and a Mu-metal strip there between
• so as to receive the encrypted credit card authorization information;
• c) wherein the CPU translates the encrypted credit card authorization information and generates a digital signal which digital signal is received by the coils to generate a magnetic field to simulate the, swipe of a regular credit card in the P.O.S terminal and complete the transaction.

A method of completing a financial transaction in a P.O.S. terminal comprising the steps of:

• a) inserting an enabling card into the P.O.S. terminal, the enabling card lacking authorization information;
• b) generating encrypted credit card authorization information by a financial institution received by a mobile phone application;
• c) establishing a wireless connection between the enabling card and the mobile phone application containing encrypted credit card authorization information;
• d) transferring the credit card authorization information from the mobile phone to the enabling card;
• e) generating a magnetic field in response to credit card authorization information transferred the enabling card;
• f) using Mu-metal when generating the magnetic field:
• so a to complete the transaction.