Smartcard Dynamic Magnetic Strip Real-Time Update

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Solution Overview

Problem

Credit and debit card information is frequently stolen due to security breaches, leading to costly fraudulent transactions and the need for widespread issuance of new cards, which is inefficient and expensive for card-issuing companies.

Innovation Solution

A smartcard with a microprocessor chip, Bluetooth low energy device, and dynamic magnetic strip that generates and updates a dynamic transaction authorization number in real time, allowing for immediate changes to card information without issuing new physical cards, and communicates with a smartphone and administrative database to ensure secure transactions.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Reliability

If card information is updated by issuing new physical cards, then security is improved, but manufacturing cost and operational complexity increase significantly

Engineering Contradiction:

ImprovesecurityVSAvoidoperational complexity

Core Design Contradiction:

ReliabilityVSDevice complexity

Solution Approach 1:

The patent implements a dynamic card information system where the magnetic strip data can be updated in real-time without physical card replacement. The card information changes from static to dynamic, allowing remote updates of card numbers and security codes through communication between the card, mobile device, and server, thereby resolving the contradiction between security improvement and operational complexity.

Inventive Principle:

Principle #15Dynamics

2Reliability

If new physical cards are issued to all affected users, then fraudulent transaction risk is reduced, but manufacturing and distribution costs increase

Engineering Contradiction:

Improvefraud preventionVSAvoidmanufacturing cost

Core Design Contradiction:

ReliabilityVSEase of manufacture

Solution Approach 1:

The patent uses digital copying and transmission of card information through magnetic strip emulation and mobile device communication. Instead of manufacturing new physical cards, the system creates and transmits digital representations of updated card information, dramatically reducing manufacturing costs while maintaining fraud prevention capabilities through secure remote updates.

Inventive Principle:

Principle #26Copying

Solution Approach 2:

The system changes the parameters of card information dynamically, allowing card numbers, security codes, and other data to be modified remotely. This parameter change approach eliminates the need for physical card reissuance, reducing manufacturing costs while improving fraud prevention through real-time information updates.

Inventive Principle:

Principle #35Parameter changes

3Adaptability or versatility

If card information remains static on the magnetic strip, then card reading compatibility is maintained, but security against theft is reduced

Engineering Contradiction:

ImprovecompatibilityVSAvoidsecurity

Core Design Contradiction:

Adaptability or versatilityVSReliability

Solution Approach 1:

The patent transforms the static magnetic strip data into dynamic information that can change over time. The card maintains compatibility with traditional readers through magnetic strip emulation while incorporating dynamic update capabilities via mobile device communication, resolving the contradiction between compatibility and security.

Inventive Principle:

Principle #15Dynamics

Solution Approach 2:

The card system achieves multi-functionality by combining traditional magnetic strip reading capability with modern digital communication features. The card can be read by conventional terminals while also supporting remote updates through mobile devices, making it universally compatible across different systems while enhancing security.

Inventive Principle:

Principle #6Universality (Multi-functionality)

4Reliability

If real-time card information updates are implemented, then fraud risk is reduced, but device complexity and power requirements increase

Engineering Contradiction:

Improvefraud protectionVSAvoidsystem complexity

Core Design Contradiction:

ReliabilityVSDevice complexity

Solution Approach 1:

The patent introduces a mobile device as an intermediary between the card and the update server. This intermediary handles the complex communication and data transmission tasks, allowing the card itself to remain relatively simple while still enabling real-time updates and fraud protection through the mediating mobile device.

Inventive Principle:

Principle #24Intermediary (Mediator)

Data Source

PatentUS9547849B2Method and apparatus for providing real time mutable credit card information and for providing sleep mode functionality

Publication Date: 2017.01.17 BANK OF AMERICA CORP

AI summary

A method for using a smartcard is provided. The smartcard may include a microprocessor chip, a button, a dynamic transaction authorization number, a Bluetooth low energy (“BLE”) device, and a battery. The battery may power the BLE and the microprocessor chip. The smartcard may also include memory. The memory may store the dynamic transaction authorization number. The smartcard may also include a dynamic magnetic strip. The dynamic magnetic strip may include a digital representation of the dynamic transaction authorization number. The method may include pressing the button. The method may also include transmitting an instruction to a smartphone for a request for a dynamic transaction authorization number. The transmission of an instruction may be in response to the pressing of the button. The method may also include receiving a dynamic transaction authorization number from a smartphone.