Programmable card

Abstract

Embodiments of the invention are directed to programming a payment device that can be in the same form factor as a typical credit or debit card and which can be programmed and reprogrammed with various payment profiles. The payment device is interfaced with a mobile device, such as through insertion into a module capable of holding the payment device within proximity to a main housing of the mobile device. The payment device can include both a magnetic stripe and an IC chip which is capable of near field communication. In embodiments of the invention, the mobile device, such as a cellular phone, includes a memory element. The memory element securely stores payment profiles of financial accounts which are commonly found on credit, debit, gift, transit and loyalty cards. When a payment profile stored in the memory element of the mobile phone is selected, the mobile phone writes the profile onto the payment device. The payment device can then be utilized to communicate payment profile information to a payment device reader during contact or contactless transaction.

Description

[0001]The present application is a non-provisional of and claims priority to U.S. Provisional Application No. 61 / 367,646, entitled “PROGRAMMABLE CARD,” filed on Jul. 26, 2010, (Attorney Docket No. 016222-073500US), the entire contents of which are herein incorporated by reference for all purposes.BACKGROUND[0002]Consumers and merchants can use a number of different payment mechanisms. For example, a consumer may have a contact chip credit card and a magnetic stripe debit card, each belonging to a different credit card association (CCA). This can cause problems for both to the consumer and the merchant as sometimes the merchant does not support the payment type (i.e., CCA) or payment format (e.g., contact chip, magnetic stripe) of the consumer's payment device. If the merchant does not use a particular payment device held by the consumer in a transaction, then the consumer may not be able to complete the transaction. Additionally, in some cases, it is not apparent what forms of payme...

AI Technical Summary

Benefits of technology

Enables consumers and merchants to easily complete transactions with a single device that supports multiple payment types and formats, reducing the need for multiple financial devices and ensuring compliance with regulations, enhancing user convenience and transaction efficiency.

Problems solved by technology

Information included in the payment profile is not accessible to a user of the mobile device.

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