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US 9,183,480 B1Granted
Using temporary data with a magnetic stripe card
AssigneeSquare, Inc.
InventorsOliver S. C. Quigley, Daniel Jeffrey Post
Life of this patent
Estimating the term…
Abstract
A method and apparatus are disclosed for using temporary data with a magnetic stripe card to reduce incidents of fraudulent card transactions. A first set of temporary data, valid until an occurrence of an event, is generated and applied to a magnetic stripe area of a magnetic stripe card (“the card”). The card can be used for a first transaction, which is authorized based on a verification that the first set of temporary data is valid, or was valid and is not expired. The transaction is processed based on an account associated with the card. The event occurs, rendering the first data item invalid, and a second set of temporary data is generated and applied to the magnetic stripe area.
Claims22
A method comprising:
- causing, by a processor coupled to a magnetic stripe card, a magnetic stripe area of the magnetic stripe card to bear a first card verification value (CVV) that can be read by a magnetic stripe card reader during a first swipe of the magnetic stripe card through the magnetic stripe card reader,
- the first CVV being valid until a first event,
- the magnetic stripe area further bearing an account number associated with a financial account,
- the magnetic stripe card being capable of use to initiate, while the first CVV is valid, a first payment, to be made based on the financial account, by being swiped using the first magnetic stripe card reader;
- and
- after the first event, causing, by the processor coupled to the magnetic stripe card, the magnetic stripe area to bear a second CVV that can be read during a second swipe of the magnetic stripe card,
- the second CVV being valid only until a second event,
- the magnetic stripe area further bearing the account number associated with the financial account,
- the magnetic stripe card being capable of being used to initiate, while the second CVV is valid, a second payment, to be made based on the financial account, by being swiped.
6 more elements
A method comprising:
- causing a first data item to be readable from a magnetic stripe area of a magnetic stripe card, to enable use of the magnetic stripe card in a first transaction based on an account associated with the magnetic stripe card, the first data item having a predetermined purpose for use in a transaction with the magnetic stripe card, the first data item being valid only until a first event;
- and
- based on an occurrence of the first event, causing a second data item to be readable from the magnetic stripe area of the magnetic stripe card, to enable use of the magnetic stripe card in a second transaction based on the account, wherein the second data item has the predetermined purpose,
- wherein the magnetic stripe area includes a first portion and a second Portion,
- wherein said causing the first data item to be readable from the magnetic stripe area includes causing the first data item to be readable from the first portion of the magnetic stripe area, and
- wherein the second data item is readable from the second portion of the magnetic stripe area.
3 more elements
A magnetic stripe card comprising:
- a substantially flat substrate;
- a processor coupled to the substrate;
- a magnetic stripe emulator coupled to the processor;
- and
- a memory coupled to the processor, the memory storing instructions which when executed by the processor cause the magnetic stripe card to perform operations including:
- sending one or more signals to the magnetic stripe emulator to cause the magnetic stripe emulator to bear a first data item to enable processing of a first transaction based on an account, the first data item being valid only until a first event;
- and
- based on the first event, sending one or more signals to the magnetic stripe emulator to cause the magnetic stripe emulator to bear a second data item to enable processing of a second transaction based on the account, wherein the second data item replaces and serves a same purpose as the first data item,
- wherein the magnetic stripe area includes a first portion of the magnetic stripe area and a second portion of the magnetic stripe area,
- the first portion of the magnetic stripe area bearing the first data item, and
- the second portion of the magnetic stripe area bearing a different data item, and
- wherein the magnetic stripe emulator bears the first data item and does not bear the different data item.
9 more elements
A system comprising:
- a communication device through which to communicate with remote devices;
- a processor coupled to the communication device;
- and
- a memory coupled to the processor, the memory storing instructions which when executed by the processor cause the system to perform operations including:
- receiving, in association with a first transaction, a first set of card data that is associated with a magnetic stripe card,
- the first set of card data including account data that is associated with an account,
- the first set of card data including a first data item that is valid only until a first event;
- determining the first event based on a risk assessment associated with the first transaction;
- processing the first transaction based on the account;
- receiving, in association with a second transaction, a second set of card data that is associated with the magnetic stripe card,
- the second set of card data including the account data,
- the second set of card data including a second data item that is valid until a second event;
- and
- processing the second transaction based on the account.
11 more elements
Dependencies are inferred from the claim text.