US Patent 8231055 Systems and methods for decoding card swipe signals
Patent 8231055 was granted and assigned to Block on July, 2012 by the United States Patent and Trademark Office.
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A new approach is proposed that contemplates systems and methods to enable an individual to complete a financial transaction by swiping a magnetic stripe card through a card reader connected to a mobile device. The size of the card reader is miniaturized to be portable for connection with the mobile device. The card reader is configured to reliably read data encoded in a magnetic strip of the card with minimum error in a single swipe and provide a signal that corresponds to the data read to the mobile device, which then decodes the incoming signal from the card reader and acts as a point-of-sale device to complete the financial transaction. Such an approach enables a person to become either a micro-merchant (payee) or a buyer/customer (payer) without having to purchase expensive card reader devices or software.
US Patent 08231055 Systems and methods for decoding card swipe signals US Patent 8231055 Systems and methods for decoding card swipe signals
US Patent 08231055 Systems and methods for decoding card swipe signals
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