METHODS AND APPARATUS FOR CONDUCTING SECURE MAGNETIC STRIPE CARD TRANSACTIONS WITH A PROXIMITY PAYMENT DEVICE

摘要

Methods and apparatus for enabling a proximity payment device to generate dynamic data for securely conducting a transaction by emulating a magnetic stripe payment card. In an embodiment, a mobile device processor transmits information to a digital enablement service computer to activate a simulated magnetic stripe payment wallet application stored in the mobile device. The mobile device then receives one or more cryptographic keys, generates an unpredictable number (UN), generates dynamic CVC3 data based on the UN, and then assembles emulated magnetic stripe data. During initiation of a purchase transaction, the mobile device processor transmits the emulated magnetic stripe data to a communications interface associated with a merchant device.

主权项

1. A method comprising:
transmitting, by a mobile device processor of a cardholder's mobile device to a digital enablement service computer, information to activate a simulated magnetic stripe payment wallet application stored in a memory of the mobile device; receiving, by the mobile device processor from the digital enablement service, at least one cryptographic key; generating, by the mobile device processor, an unpredictable number (UN); generating, by the mobile device processor based on the UN, dynamic CVC3 data; assembling, by the mobile device processor, emulated magnetic stripe data for use in a purchase transaction; and transmitting, during initiation of a purchase transaction by the mobile device processor, the emulated magnetic stripe data to a communications interface associated with a merchant device.