Multi-function electronic payment card and device system
Embodiments include multi-function electronic payment card and device systems capable of generating a programmed magnetic field of alternating polarity based on a speed of a card swipe, and methods for constructing the device for the purpose of emulating a standard credit card. An apparatus is described to allow the device to emulate behavior of a credit card when used in electronic credit card readers. Additionally methods are described to allow user control of the device for the purpose of authorizing or controlling use of the device in the application of credit, debit and cash transactions, including cryptocurrency and card-to-card transactions. Methods are also described for generating a limited-duration credit card number when performing a transaction for the purpose of creating a limited-use credit card number, which is limited in scope of use to a predetermined number of authorized transactions. Furthermore the device may interact with other similar devices in proximity for the purpose of funds or credit/debit transfers.
1. A system for performing secure payments, the system comprising:
a thin card-shaped device comprising:
a memory configured to store a stored information comprising:
an identification data;
at least one secret;
a device-specific identification data; and
a sequence counter count; and the device further comprising:
a processor coupled to the memory,
wherein further the processor is configured to dynamically generate at least a portion of a generated payment information based on the stored information, and
wherein the generated payment information is configured to be used in place of a payment issuer information; and
at least one interface configured to communicate at least a portion of the generated payment information, and
wherein the processor is configured to cause to be transmitted at least a portion of the generated payment information via the at least one interface; and
a display coupled to the processor and configured to display at least a portion of the generated payment information, and
wherein the at least a portion of the generated payment information is a dynamically generated card security code number associated with the payment issuer information.
2. The system of claim 1 , further comprising:
a payment processing authority operable to receive the at least a portion of the generated payment information, and wherein the payment processing authority is operable to compute an expected information from at least one information, similarly stored within the memory, and selected from a set of information consisting of:
a processing authority clock time,
a processing authority transaction sequence count,
a card user information,
a payment account information,
a transaction amount,
a user credit limit,
a user account balance,
a merchant facility information, and
a transaction information, and
wherein the payment processing authority is further operable to approve as authentic, a payment transaction including the dynamically generated card security code number and wherein the at least a portion of the generated payment information and the dynamically generated card security code number are substantially matching said expected information, and
wherein the payment transaction completes when the payment processing authority approves the payment transaction.
3. The system of claim 1 , wherein the at least one interface comprises a wireless interface configured to wirelessly communicate the generated payment transaction information; and
wherein the wireless interface is further configured to transmit said at least a portion of the generated payment information and said dynamically generated card security code number to a wirelessly connected personal computing device.
4. The system of claim 1 , wherein the at least one interface comprises:
an NFC interface configured to communicate the at least a portion of the generated payment information to an NFC reader; and,
wherein the NFC reader is configured to transmit the at least a portion of the generated payment information.
5. The system of claim 1 , wherein the at least one interface comprises:
a chip-reader interface configured to communicate the at least a portion of the generated payment information to a chip-card reader facility, and
wherein the chip-reader interface configured to transmit the at least a portion of the generated information.
6. The system of claim 1 , wherein the at least one interface comprises:
a display configured to communicate the at least a portion of the generated payment information via alphanumerical, graphical, and iconographical display elements rendered on the display, and
wherein the processor is configured to dynamically update the at least a portion of the generated payment information rendered on the display.
7. The system of claim 1 , wherein the processor is further configured to update the sequence counter based on at least one event selected from a set of events consisting of:
a user input,
a card activation,
a card insertion in a card-reader,
a transaction initiation,
a transaction completion,
a card-reader transaction acknowledgement,
a card generation of information,
a number of uses,
a remaining number of uses,
a number of limited uses, and
an information transaction over said at least one interface.
8. A system for completing secure payments comprising a thin hand-held device comprising:
a display;
a memory configured to store a stored information comprising:
a card issuer identification data;
a device-specific identification data;
at least one secre; and
a sequence counter count, and wherein the thin hand-held device further comprises:
a processor coupled to the memory,
wherein the processor is configured to generate a generated card information based on the stored information, and
wherein generated card information is configured to be used in place of card issuer information; and
an interface configured to communicate at least a portion of the transaction information,
wherein the processor is configured to cause to be transmitted the generated card information via the interface; and
wherein the processor is configured to display at least a portion of the generated card information; and
wherein the processor is further configured to dynamically generate from the stored information, a card security code number associated with the card issuer identification data, and to render said card security code number on said display.
9. The system of claim 8 , further comprising a card processing authority, wherein the card processing authority is operable to receive a payment transaction information including a portion of the generated card information, and
wherein the card processing authority is operable to compute an expected information from at least one of a set of information consisting of:
an authority clock time,
an authority transaction sequence count,
a card user information,
a card account information,
a transaction amount,
a user credit limit,
a user account balance,
a merchant facility information,
a transaction information, and
wherein the card processing authority is operable to approve as authentic, a payment transaction substantially matching the expected information, and
wherein the transaction completes after at least the card processing authority has approved the transaction as authentically matching the expected information.
10. The apparatus of claim 8 , wherein the processor is further configured to update the sequence counter count based on at least one event selected from a set of events consisting of:
a user input,
a card activation,
a card insertion in a card-reader,
a transaction initiation,
a transaction completion,
a card-reader transaction acknowledgement,
a card generation of information,
a number of uses,
a number of uses in a payment transaction,
a number of uses in a successfully completed payment transaction,
a remaining number of uses,
a number of limited uses, and
an information transaction over said interface.
11. A card-shaped device comprising:
a memory configured to store a stored information, said stored information comprising:
identification information;
device-specific identification data;
secret information; and
a sequence counter count; and wherein the device further comprises:
a processor coupled to the memory,
wherein the processor is configured to generate a payment information based on the stored information,
wherein the payment information is configured to be used in place of a payment issuer information,
wherein the processor is further configured to dynamically generate a payment security code number associated with the payment issuer information from the stored information; and
a communications interface, coupled to the processor, and configured to communicate the payment security code number for receipt by a payment processing authority.
12. The card-shaped device of claim 11 , wherein the processor is operable to generate at least a portion of said payment information, for a payment transaction, based on secrets and information shared by both the card; shaped device, and a payment processing authority, and
wherein the processor is further operable to cause to be conveyed the at least a portion of said payment information, via the communications interface, for receipt by said payment processing authority, and
wherein the processor and the payment processing authority are similarly operable to generate the at least a portion of said payment information, for said payment transaction, from at least one of a set of secrets and information, similarly shared by both the processor and the payment processing authority, said set of secrets and information consisting of one or more of:
a clock time,
a transaction sequence count,
a card user information,
a card account information,
a transaction amount,
a user credit limit,
a user account balance,
a merchant facility information, and
a transaction information, and wherein the payment information is operable to be approved as authentic, after said payment processing authority has determined said payment information is substantially matching an expected information, and
wherein the payment transaction completes after at least the payment processing authority has determined the at least a portion of the payment information, as authentically matching at least a portion of the expected information similarly generated by said payment processing authority, and
wherein the processor and the payment processing authority are operable to similarly update said set of shared secrets and information upon completing the payment transaction.
13. The card-shaped device of claim 11 , wherein the communications
interface comprises a wireless interface configured to wirelessly communicate at least a portion of said payment information, and
wherein the processor is configured to cause to be transmitted the at least a portion of said payment information via the wireless interface; and
wherein the wireless interface is further configured to transmit the at least a portion of said payment information, and said payment security code number for receipt by a wirelessly connected computing device.
14. The card-shaped device of claim 11 , wherein the communications
interface comprises an NFC interface configured to communicate the payment information to the NFC reader, and
wherein the processor is configured to cause to be transmitted the payment
information via the NFC interface, and
wherein the processor is further configured to update the sequence counter count upon completion of a payment transaction.
15. The card-shaped device of claim 11 , wherein the communications interface comprises a wireless interface configured to communicate the payment information to a wireless reader, and
wherein the processor is configured to cause the payment information to be transmitted via the wireless interface, and
wherein the processor is further configured to update the sequence counter count upon the completion of a communication via said wireless interface.
16. The card-shaped device of claim 11 , wherein the communications interface comprises a magnetic strip interface configured to communicate the payment information to a magnetic strip reader, and
wherein the processor is configured to cause the payment information to be transmitted via the magnetic strip interface, and
wherein the processor is further configured to update the sequence counter count upon the completion of a payment transaction.
17. The card-shaped device of claim 11 , wherein the communications interface comprises a chip-reader interface configured to communicate the payment information to a chip card reader, and
wherein the processor is configured to cause the payment information to be transmitted via the chip-reader interface; and,
wherein the processor is further configured to update the sequence counter count upon the completion of a payment transaction.
18. The card-shaped device of claim 11 , wherein the processor is further configured to update the sequence counter count based on at least one event selected from a set of events consisting of;
a user input,
a card activation,
a card insertion in a card-reader,
a transaction initiation,
a transaction completion,
a card-reader transaction acknowledgement,
a card generation of information,
a number of uses,
a remaining number of uses,
a number of limited uses, and
an information transaction over said communication interface.
19. The card-shaped device of claim 11 further comprising a display operable to display an alphanumeric sequence,
wherein the alphanumeric sequence comprises at least a portion of said payment information, not presented on a payment reader interface of said card-shaped device, and which is generated by said processor from said stored information stored within said memory.