Cards and devices with multifunction magnetic emulators and methods for using same
A payment card (e.g., credit and/or debit card) is provided with a magnetic emulator operable of communicating information to a magnetic stripe reader. Information used in validating a financial transaction is encrypted based on time such that a validating server requires receipt of the appropriate encrypted information for a period of time to validate a transaction for that period of time. Such dynamic information may be communicated using such an emulator such that a card may be swiped through a magnetic stripe reader—yet communicate different information based on time. An emulator may receive information as well as communicate information to a variety of receivers (e.g., an RFID receiver).
1. A device comprising:
a circuit operable to emit an electromagnetic field and to electrically couple to, and transmit data to, a read-head located on a magnetic stripe reader; and
a processor for controlling the circuit,
wherein the circuit is operable to communicate the data to the read-head while located outside of the magnetic stripe reader at a distance of at least a quarter of an inch from the read-head.
2. The device of claim 1 , wherein the device is thicker than a payment card.
3. The device of claim 1 , wherein the device is a wireless communication device.
4. The device of claim 1 , wherein the device is a portable telephonic device.
5. The device of claim 1 , wherein the device is a portable media player.
6. The device of claim 1 , further comprising a display operable to display a virtual card.
7. The device of claim 1 , further comprising a touch-sensitive display operable to display a virtual card.
8. The device of claim 1 , wherein the circuit is operable to emit a second electromagnetic field.
9. The device of claim 1 , wherein the circuit is operable to emit a second electromagnetic field in parallel with the electromagnetic field.
10. The device of claim 1 , wherein the circuit is operable to serially transmit the data.
11. The device of claim 1 , wherein the circuit is operable to transmit the data in a parallel operation.
12. A portable telephonic device comprising:
a circuit operable to emit an electromagnetic field and to electrically couple to, and transmit data to, a read-head located on a magnetic stripe reader; and
a processor for controlling the circuit, wherein the circuit is operable to communicate the data to the read-head while located outside of the magnetic stripe reader.
13. The portable telephonic device of claim 12 , further comprising a graphical user interface.
14. The portable telephonic device of claim 12 , wherein the circuit is operable to communicate the data to the read-head located at a distance of at least a quarter of an inch from the portable telephonic device.
15. The portable telephonic device of claim 12 , wherein the portable telephonic device is a portable media player.
16. The portable telephonic device of claim 12 , further comprising a display operable to display a virtual card.
17. The portable telephonic device of claim 12 , further comprising a touch-sensitive display operable to display a virtual card.
18. The portable telephonic device of claim 12 , further comprising a second circuit operable to emit a second electromagnetic field.
19. The portable telephonic device of claim 12 , further comprising a second circuit operable to emit a second electromagnetic field in parallel with the electromagnetic field.
20. The portable telephonic device of claim 12 , wherein the circuit is operable to serially transmit the data.