Fraud resistant personally activated transaction card

Details Fraud resistant personally activated transaction card Fraud resistant personally activated transaction card

1996-05-28

1999-05-25

Porta, David P.

Registers

Systems controlled by data bearing records

Credit or identification card systems

G06K 510

Patent

active

059071427

ABSTRACT:
A method and apparatus for preventing transaction card fraud. A transaction card has a keypad display, and a microprocessor for receiving and processing numbers and symbols entered through the keypad. A transaction access code and a corresponding transaction approval code are provided by the card issuer to the seller at the time of a transaction. The cardholder entering the transaction access code into the keypad of the card causes an authentically used card to display a symbol identical to the transaction approval code provided by the issuer. Comparison of the symbol and the transaction approval code can thus be used to authenticate a card transaction. The access code and corresponding approval code are changed by the issuer after each transaction to further aid in fraud prevention.

REFERENCES:
patent: 4614861 (1986-09-01), Pavlov et al.
patent: 4692601 (1987-09-01), Nakano
patent: 4697072 (1987-09-01), Kawana
patent: 4868376 (1989-09-01), Lessin et al.
patent: 4879455 (1989-11-01), Butterworth et al.
patent: 5180902 (1993-01-01), Schick et al.

Affiliated with

Also associated with

Rating

Fraud resistant personally activated transaction card does not yet have a rating. At this time, there are no reviews or comments for this patent.

If you have personal experience with Fraud resistant personally activated transaction card, we encourage you to share that experience with our LandOfFree.com community. Your opinion is very important and Fraud resistant personally activated transaction card will most certainly appreciate the feedback.

Rate now

Comments { 0 }

Profile ID: LFUS-PAI-O-402402