US Patent 7996318 Multi-function electronic transaction card

The present invention provides for a multi-function electronic transaction card or MET card, which comprises a base card and at least two conventional magnetic stripes. As such, they can be used in either proprietary or syndicated applications employing credit, debit, cash, and borrowing, as well as, information storage, single and co-branding programs, award points, loyalty programs, affinity programs, personal identification, licenses, and electronic keys. MET cards can also be used to reduce soliciting, issuing, delivering, confirmation, monitoring, and billing costs. The incidence of criminal theft and unauthorized use is also significantly decreased as is the overall quantity of environmental waste generated. Where required, MET cards may also utilize one or more electronic chips and/or radio frequency identification tags in order to further enhance functionality. As a result, MET cards offer a level of performance and versatility that is reliable, innovative, and highly marketable.