System, method and apparatus for enabling transactions using a biometrically enabled programmable magnetic stripe
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United States of America Patent
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Apr 28, 2015
Grant Date -
Oct 6, 2011
app pub date -
Jun 17, 2011
filing date -
Mar 28, 2002
priority date (Note) -
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status (Latency Note)
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Abstract
The present invention provides a system, method and apparatus that includes a magnetic field generator that is normally inactive and includes a magnetic stripe either mounted on the substrate or disposed within a substrate, one or more induction coils disposed within the substrate underneath a length of the magnetic stripe and a control circuit disposed within the substrate that is connected to the one or more induction coils. The control circuit generates a time-varying magnetic signal by pulsing the one or more induction coils underneath the magnetic stripe when activated by a processor. The time-varying magnetic signal is transmitted to a magnetic stripe reader and emulates a data stream generated by swiping a static magnetic stripe card through the magnetic stripe reader but is not created by swiping the magnetic stripe of the apparatus through the magnetic stripe reader or using an adapter to interface with the magnetic stripe reader.
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