FINANCIAL TRANSACTIONS USING BINARY CODED DECIMAL (BCD) BANKCARD
PCT Application Number : Will update soon
Indian Patent Application Number : 201741031949
US Patent Application Number : Will update soon
Traditional method for financial transaction using bank card include, a user visits an ATM, inserts bank card in a slot provided at the ATM, and enter details such as PIN associated with the bank card, and performs the transaction. A magnetic strip or barcode or QR code or chip provided on the bank card stores card data wherein the data associated with a customer/user, which can be read/scan by physical contact and swiping past a reading head. The card based transactions can be implemented across multiple channels of commerce such as retail store, a point of sale terminal (POS). As the popularity and worldwide acceptance of bank cards has been grow exponentially, simultaneously most user/ customer faced insecurities in using such cards due to bank card fraud which is a wide-ranging term for theft and fraud committed using or involving a payment card, such as a credit card or debit card, with criminal intent. The bank card fraud is also an adjunct to identity theft. In 2008, more than $1 billion was stolen in ATM-related crimes. Though it is decreasing day-by-day with advancement in the technology, however, due to same advancement in the technology new and advance types of bank card fraud came into existence. The bank card fraud begins either with the theft of the physical card or with the compromise of data associated with the account, including the card account number or other information that would routinely and necessarily be available to a merchant during a legitimate transaction.
Some thieves take the old-fashioned route but there's a much quieter, high-tech form of theft targeting ATMs such as card skimming or card cloning. Further, the card skimming or card cloning is the crime of getting private information about somebody else's credit card used in an otherwise normal transaction. The thief can procure a victim's card number using basic methods such as photocopying receipts or more advanced methods such as using a small electronic device (skimmer) to swipe and store hundreds of card numbers. The card skimming or card cloning uses a card skimming device (skimmer) to duplicitously copy bank customer details stored on the magnetic strip or chip on the bank card such as a debit or credit card. The customer and card information stolen with skimming devices is often used to manufacture counterfeit (duplicate) cards which criminals use to make fraudulent transactions on a victim’s account. Irrespective of these drawbacks, additionally, the magnetic strip or chip or bank customer details such as CVV, customer name, expiry date which is visible or easily available to the thief to copy bank customer details while the performing card cloning and card skimming. Furthermore, less sophisticated card-skimming frauds also require user PIN associated with the bank card, and so to capture PIN thief will install a tiny camera pointing at the keypad.
Therefore, it would be advantageous to provide a way in which the conventional method and the conventional system being replaced or supplemented by a quicker, more convenient, more efficient, or more economical transaction systems and methods. It would be further advantageous to provide a new type of bank card which is more durable, secure and theft resistant and also a new type to ATM and/or POS devices that supports such new type of bank card
All publications herein are incorporated by reference to the same extent as if each individual publication or patent application were specifically and individually indicated to be incorporated by reference. Where a definition or use of a term in an incorporated reference is inconsistent or contrary to the definition of that term provided herein, the definition of that term provided herein applies and the definition of that term in the reference does not apply.
Indian Patent Application Number : 201741031949
US Patent Application Number : Will update soon
Traditional method for financial transaction using bank card include, a user visits an ATM, inserts bank card in a slot provided at the ATM, and enter details such as PIN associated with the bank card, and performs the transaction. A magnetic strip or barcode or QR code or chip provided on the bank card stores card data wherein the data associated with a customer/user, which can be read/scan by physical contact and swiping past a reading head. The card based transactions can be implemented across multiple channels of commerce such as retail store, a point of sale terminal (POS). As the popularity and worldwide acceptance of bank cards has been grow exponentially, simultaneously most user/ customer faced insecurities in using such cards due to bank card fraud which is a wide-ranging term for theft and fraud committed using or involving a payment card, such as a credit card or debit card, with criminal intent. The bank card fraud is also an adjunct to identity theft. In 2008, more than $1 billion was stolen in ATM-related crimes. Though it is decreasing day-by-day with advancement in the technology, however, due to same advancement in the technology new and advance types of bank card fraud came into existence. The bank card fraud begins either with the theft of the physical card or with the compromise of data associated with the account, including the card account number or other information that would routinely and necessarily be available to a merchant during a legitimate transaction.
Some thieves take the old-fashioned route but there's a much quieter, high-tech form of theft targeting ATMs such as card skimming or card cloning. Further, the card skimming or card cloning is the crime of getting private information about somebody else's credit card used in an otherwise normal transaction. The thief can procure a victim's card number using basic methods such as photocopying receipts or more advanced methods such as using a small electronic device (skimmer) to swipe and store hundreds of card numbers. The card skimming or card cloning uses a card skimming device (skimmer) to duplicitously copy bank customer details stored on the magnetic strip or chip on the bank card such as a debit or credit card. The customer and card information stolen with skimming devices is often used to manufacture counterfeit (duplicate) cards which criminals use to make fraudulent transactions on a victim’s account. Irrespective of these drawbacks, additionally, the magnetic strip or chip or bank customer details such as CVV, customer name, expiry date which is visible or easily available to the thief to copy bank customer details while the performing card cloning and card skimming. Furthermore, less sophisticated card-skimming frauds also require user PIN associated with the bank card, and so to capture PIN thief will install a tiny camera pointing at the keypad.
Therefore, it would be advantageous to provide a way in which the conventional method and the conventional system being replaced or supplemented by a quicker, more convenient, more efficient, or more economical transaction systems and methods. It would be further advantageous to provide a new type of bank card which is more durable, secure and theft resistant and also a new type to ATM and/or POS devices that supports such new type of bank card
All publications herein are incorporated by reference to the same extent as if each individual publication or patent application were specifically and individually indicated to be incorporated by reference. Where a definition or use of a term in an incorporated reference is inconsistent or contrary to the definition of that term provided herein, the definition of that term provided herein applies and the definition of that term in the reference does not apply.
In order to overcome the above problems and to fulfill the expectations of the customers, the objective of the present invention is to provide a new, technically advanced and improved system and method that enables for performing financial transactions utilizing a new type of binary coded decimal bank card and an ATM/POS device which supports such new binary coded decimal bank card.
In an aspect, the proposed binary coded decimal bank card (also interchangeably referred to as ATM card) is new, inventive and technically advanced binary coded decimal bank card (ATM card/credit card/debit card) having a connector grid and binary coded decimal to increase high security levels of the bank card. Further, such new bank card can be utilized only in new type of proposed ATM/POS machines having a capability to read/scan/support the binary coded decimal bank card with enhanced security method to perform financial transaction.
Accordingly, embodiments of the present disclosure relates to a binary coded decimal bank card (ATM card/credit card/debit card) and a multi-featured ATM machine which supports the binary coded decimal bank card with enhanced security method to perform financial transaction.
An aspect of the present disclosure relates to a bank card (ATM card/credit card/debit card) having at least one connector grid embedded in the card, at least one binary coded decimal (also interchangeable referred to as “binary grid”) embedded in the card, and at least one alias number embossed on the card.
In an aspect, the connector grid embedded in the card can be a copper grid with at least one copper connector grid and at least two connectors/connecting points visible on a body of the bank card. In an aspect, the at least two connectors visible on a body of the bank card can operate as electricity conducting materials. In another aspect, the connector grid can be made of minimum of 3 rows with 60 individual connectors/connector pins (only to confuse the hacker), and not interconnected with each other.
In another aspect, out of 60 individual connector/connector pins 2 or more random connectors can be used for power supply to the binary coded decimal. In another aspect, 4 or more connectors/connector pins out of remaining 58 pins can be used to activate the microprocessor or chip by short circuiting these 4 or more connectors. In another aspect, short circuited pins can be required to start the actual functionality of the microprocessor or chip.
In an aspect, the binary coded decimal (also interchangeable referred to as “binary grid”) can be selected any or combination of an infrared LED or an Infrared-OLED or an ultra LED or any LED technology. In another aspect, the binary coded decimal (also interchangeable referred to as “binary grid”) can be an electrochemical compound grid. In an example, the electrochemical compound grid can be made by combination and/or re-combination of any known compounds/chemical. In an example, the infrared LED or the Infrared-OLED or the ultra LED or any LED technology hereinafter referred as glowed LED and electrochemical compound grid referred as chemical reacted grid.
[00018] In an aspect, the binary coded decimal can include a microprocessor or chip coupled with each component/cell provided in the grid. ATM transaction can be completed using alias number only. The connector grid and the microprocessor can be connected with each other by the means of physical connection or wireless connection. The connector grid can transmit power (electrical energy) to a microprocessor or chip of the binary coded decimal which glows/reacts as per the pre-configured/pre-determined data which is embedded in the microprocessor. For instance LED binary coded decimal can glow based on electrical energy, and in case of the electrochemical binary coded decimal, the binary cell or circle can change colour after chemical reaction.
In an aspect, the glowed grid or chemical reacted grid can indicate at least one confidential number (confidential number can also be in encrypted format) associated with card holder which identifies details associated with the bank holder at a bank server. In another aspect, the pre-configured/pre-determined data of the microprocessor can indicate any or combination of a bank account number, a credit card number, a debit cards number, a chip number, etc.
An aspect of the present disclosure relates to an ATM/POS adapted to provide a power/electricity to at least two connectors/connecting points of connector grid associated with bank card (ATM card/credit card/debit card). The connector grid can transmit power (electrical energy) to a microprocessor or chip of the binary coded decimal which glows the components/cells/circles of the binary coded decimal as per the pre-configured/pre-determined data embedded in the microprocessor. The glowed grid or chemical reacted grid can indicate at least one confidential number (confidential number can be in encrypted format) associated with card holder which identifies details associated with the bank holder at a bank server. In another aspect, the glowed grid or chemical reacted grid can indicate any or combination of a bank account number, a credit card number, a debit cards number, a chip number, etc.
In an aspect, the proposed binary coded decimal bank card (also interchangeably referred to as ATM card) is new, inventive and technically advanced binary coded decimal bank card (ATM card/credit card/debit card) having a connector grid and binary coded decimal to increase high security levels of the bank card. Further, such new bank card can be utilized only in new type of proposed ATM/POS machines having a capability to read/scan/support the binary coded decimal bank card with enhanced security method to perform financial transaction.
Accordingly, embodiments of the present disclosure relates to a binary coded decimal bank card (ATM card/credit card/debit card) and a multi-featured ATM machine which supports the binary coded decimal bank card with enhanced security method to perform financial transaction.
An aspect of the present disclosure relates to a bank card (ATM card/credit card/debit card) having at least one connector grid embedded in the card, at least one binary coded decimal (also interchangeable referred to as “binary grid”) embedded in the card, and at least one alias number embossed on the card.
In an aspect, the connector grid embedded in the card can be a copper grid with at least one copper connector grid and at least two connectors/connecting points visible on a body of the bank card. In an aspect, the at least two connectors visible on a body of the bank card can operate as electricity conducting materials. In another aspect, the connector grid can be made of minimum of 3 rows with 60 individual connectors/connector pins (only to confuse the hacker), and not interconnected with each other.
In another aspect, out of 60 individual connector/connector pins 2 or more random connectors can be used for power supply to the binary coded decimal. In another aspect, 4 or more connectors/connector pins out of remaining 58 pins can be used to activate the microprocessor or chip by short circuiting these 4 or more connectors. In another aspect, short circuited pins can be required to start the actual functionality of the microprocessor or chip.
In an aspect, the binary coded decimal (also interchangeable referred to as “binary grid”) can be selected any or combination of an infrared LED or an Infrared-OLED or an ultra LED or any LED technology. In another aspect, the binary coded decimal (also interchangeable referred to as “binary grid”) can be an electrochemical compound grid. In an example, the electrochemical compound grid can be made by combination and/or re-combination of any known compounds/chemical. In an example, the infrared LED or the Infrared-OLED or the ultra LED or any LED technology hereinafter referred as glowed LED and electrochemical compound grid referred as chemical reacted grid.
[00018] In an aspect, the binary coded decimal can include a microprocessor or chip coupled with each component/cell provided in the grid. ATM transaction can be completed using alias number only. The connector grid and the microprocessor can be connected with each other by the means of physical connection or wireless connection. The connector grid can transmit power (electrical energy) to a microprocessor or chip of the binary coded decimal which glows/reacts as per the pre-configured/pre-determined data which is embedded in the microprocessor. For instance LED binary coded decimal can glow based on electrical energy, and in case of the electrochemical binary coded decimal, the binary cell or circle can change colour after chemical reaction.
In an aspect, the glowed grid or chemical reacted grid can indicate at least one confidential number (confidential number can also be in encrypted format) associated with card holder which identifies details associated with the bank holder at a bank server. In another aspect, the pre-configured/pre-determined data of the microprocessor can indicate any or combination of a bank account number, a credit card number, a debit cards number, a chip number, etc.
An aspect of the present disclosure relates to an ATM/POS adapted to provide a power/electricity to at least two connectors/connecting points of connector grid associated with bank card (ATM card/credit card/debit card). The connector grid can transmit power (electrical energy) to a microprocessor or chip of the binary coded decimal which glows the components/cells/circles of the binary coded decimal as per the pre-configured/pre-determined data embedded in the microprocessor. The glowed grid or chemical reacted grid can indicate at least one confidential number (confidential number can be in encrypted format) associated with card holder which identifies details associated with the bank holder at a bank server. In another aspect, the glowed grid or chemical reacted grid can indicate any or combination of a bank account number, a credit card number, a debit cards number, a chip number, etc.
The proposed ATM/POS can be adapted to read the encoded information associated with the glowed grid or chemical reacted grid. In another aspect, the proposed ATM/POS can decode the binary coded decimal to decimal code (in encrypted format) and transmit/send directly to a bank server for decoding the decimal code in decoded value. If the decoded value is valid then system prompts to enter the PIN to complete financial transaction. Method of performing financial transaction using a proposed bank card and a proposed ATM/POS includes the step of: receiving, by the proposed ATM/POS machine, the proposed bank card; supplying, by a power source provided in the proposed ATM/POS machine, to at least two point of a connector grid which is provided on the proposed bank card; transmitting power, by the connector grid, to microprocessor or chip of a binary coded decimal which glows as per the pre-configured/pre-determined data which is embedded in the microprocessor; reading/scanning, by the proposed ATM/POS machine, the encoded information associated with the glowed grid or chemical reacted grid, wherein the encoded information can be in BCD format or representation or encrypted format; decoding, by the proposed ATM/POS machine, the binary coded decimal to decimal code (in encrypted format) and transmitting the decimal code to a bank server, decoding the decimal code in decoded value by the bank server and upon authentication of the decoded value, system prompts for PIN to complete financial transaction.
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Note: All the above images are only for illustration purpose.
Disclaimer: Chances are there that some one may have patents on the similar innovative ideas but all these concepts are my own individual thoughts.
Thanks,
SPCS
Please provide your valuable suggestion and comments on this article
Reach me @ my.innovationconcepts@gmail.com
Note: All the above images are only for illustration purpose.
Disclaimer: Chances are there that some one may have patents on the similar innovative ideas but all these concepts are my own individual thoughts.
Thanks,
SPCS
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