Time-varying security code for enabling authorizations and other uses of financial accounts
OwnerJames Roskindinventor
Life of this patent
Estimating the term…
Abstract
A portable device is provided that carries account data. The account data may include a security code having a value that is time-varying. The value of the security code may be programmatically varied based on at least one of an algorithm or event. Authorization and use of the account may be sought from an authorization agent using the account data provided on the portable device.
Claims19
A card device for enabling use of an account to complete financial transactions, the card device comprising:
- one or more mediums on which a plurality of alphanumeric values are held for use in enabling a user of the card device to be authorized to use the account, the plurality of alphanumeric values including (i) a static data set that includes a numeric identifier of the account and a name of the user associated with the account, and (ii) a security code having a value that is time-varying;
- wherein the one or more mediums include at least (i) a first medium that displays in human-readable form, for anyone who holds the card device, the static data set, and (ii) a second medium that displays the security code;
- wherein the static data set and the security code are required, and provide all the information necessary from the card device, to enable receipt of authorization for a given financial transaction;
- and
- logic for determining the value of the security code based at least in part one of a timing parameter or an event parameter, wherein the logic determines the value of the security code in a manner that is acceptable to an authorizing agent.
A standardized financial card device comprising:
- one or more mediums on which a plurality of alphanumeric values are held for use in enabling a user of the card device to be authorized to use the account, the plurality of alphanumeric values including (i) a static data set, and (ii) a time-varying three or four digit Card Verification Value;
- a processor configured to determine the value of the Card Verification Value based at least in part one of a timing parameter or an event parameter;
- and
- a display surface that communicates with the processor to display the value of the Card Verification Value as determined by the processor at a given instance.
A computer readable medium for use on a standardized financial credit card device, wherein the computer readable medium carries instructions for enabling use of an account, wherein the instructions, when executed, cause performance of steps comprising:
- varying a value of a three or four digit Card Verification Value based on one or more of a timing parameter or event parameter;
- and
- displaying the value of the Card Verification Value on a display of the card device.
Dependencies are inferred from the claim text.