System, method and apparatus for enabling transactions using a biometrically enabled programmable magnetic stripe

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 lengt...

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Bibliographische Detailangaben
Hauptverfasser:	ANTAKI PATRICK R, DOUGHTY RALPH O
Format:	Patent
Sprache:	eng
Schlagworte:	ARRANGEMENTS, SYSTEMS OR APPARATUS FOR CHECKING NOT PROVIDEDFOR ELSEWHERE CALCULATING CHECKING-DEVICES COIN-FREED OR LIKE APPARATUS COMPUTING COUNTING DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES ELECTRIC DIGITAL DATA PROCESSING GENERATING RANDOM NUMBERS HANDLING RECORD CARRIERS PHYSICS PRESENTATION OF DATA RECOGNITION OF DATA RECORD CARRIERS REGISTERING OR INDICATING THE WORKING OF MACHINES SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR TIME OR ATTENDANCE REGISTERS VOTING OR LOTTERY APPARATUS
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Beschreibung
Zusammenfassung:	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.