SYSTEM AND METHOD FOR SECURELY LOADING, STORING AND TRANSMITTING MAGNETIC STRIPE DATA IN A DEVICE WORKING WITH A MOBILE WALLET SYSTEM

SYSTEM AND METHOD FOR SECURELY LOADING, STORING AND TRANSMITTING MAGNETIC STRIPE DATA IN A DEVICE WORKING WITH A MOBILE WALLET SYSTEM

A system and method for a payment card capture, storage and transmission device with magnetic stripe transmission capabilities without contact with the magnetic reader head including a magnetic field transmitter including a driver and inductor, a microprocessor, a memory storage or secure element, a...

Ausführliche Beschreibung

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Bibliographische Detailangaben
1. Verfasser: GRAYLIN WILLIAM W
Format: Patent
Sprache:eng
Schlagworte:
CALCULATING
COMPUTING
COUNTING
DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES
HANDLING RECORD CARRIERS
PHYSICS
PRESENTATION OF DATA
RECOGNITION OF DATA
RECORD CARRIERS
SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR
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Beschreibung
Zusammenfassung:A system and method for a payment card capture, storage and transmission device with magnetic stripe transmission capabilities without contact with the magnetic reader head including a magnetic field transmitter including a driver and inductor, a microprocessor, a memory storage or secure element, a battery, a magnetic stripe reader (MSR), an audio jack interface working in conjunction with a consumer mobile communication device and wallet application for capturing magnetic stripe card data, storing the data securely, and transmitting such data to a merchant's point of sale (POS) terminal, checkout system, or other MSR device. The system provides a convenient buying experience for buyers, and secure and informative transactions for sellers.