Mobile Device Magnetic Stripe Decoding System
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Solution Overview
Problem
Current magnetic stripe card readers are not suitable for conducting financial transactions between individuals using mobile devices, as they are not designed for non-merchant transactions and lack the capability to decode signals from magnetic stripes efficiently for personal payments.
Innovation Solution
A decoding system integrated into a mobile device, comprising a decoding engine, a transaction engine, and a user interaction engine, which decodes signals from a magnetic stripe card, allows users to input numbers, characters, and signatures through a touch screen, and facilitates financial transactions by communicating with a payment system.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Volume of moving object
If a traditional magnetic stripe card reader is used, then card reading function is available, but the device size is large and cannot be integrated into mobile devices
Solution Approach 1:
The patent divides the card reading system into separate functional modules: a magnetic stripe reader that can be externally connected to a mobile device, and a processing system that runs on the mobile device. This segmentation allows the reader to be miniaturized while maintaining full functionality through the mobile device's processing power.
Solution Approach 2:
The patent makes the mobile device serve multiple functions: it acts as the card reading terminal, processing unit, display device, and communication interface. By integrating these functions into a single universal device, the system eliminates the need for dedicated large card reading machines at point-of-sale locations.
2Productivity
If card information is shared with merchant for transaction processing, then transaction can be completed, but user privacy is compromised
Solution Approach 1:
The patent introduces the mobile device as an intermediary between the card and the merchant system. The mobile device reads the magnetic stripe data locally, processes the transaction information, and only transmits necessary transaction details (not full card information) to the merchant or payment processor, thereby protecting user privacy while enabling efficient transactions.
Solution Approach 2:
The patent creates a local copy of the card data in the mobile device's memory for processing purposes. This copy allows the system to perform transactions without repeatedly exposing or transmitting the actual card information, reducing privacy risks while maintaining transactional efficiency.
Applied Scientific Principles
This section explains which scientific principles are used to turn an abstract innovation direction into a practical engineering solution.
Function Achieved in This Case
Enables secure and efficient financial transactions between individuals using a miniaturized card reader connected to a mobile device, ensuring privacy and convenience by decoding magnetic stripe data and processing payments without sharing card information directly with the merchant.
Implementation Method 1
The magnetic stripe card is capable of storing data by modifying the magnetism of magnetic particles embedded in the stripe. The data stored on the magnetic stripe may be sensed or read by swiping the stripe past a read head.
Data Source
AI summary
A decoding system has a decoding engine running on a mobile device. The decoding engine decodes signals produced from a read of a first party's financial transaction card. The decoding engine accepts and initializes incoming signals from a read of the first party's financial transaction card. A transaction engine runs on the mobile device and is coupled to the decoding engine. The transaction engine receives as its input decoded first party's financial transaction card information from the decoding engine. A user interaction engine is configured to utilize a touch screen of the mobile device. A first party or second party can input at least one of numbers, characters, and signatures by touching the touch screen.