Patent ID: 8499334

Claim:
An apparatus comprising: a substrate integrated into: (a) a card selected from the group consisting essentially of an access card, a credit card, a debit card, an identification card, a drivers license, a firearm license, a mini-card, a physical access security card, a security card, a stored value card and a vendor-specific card, or (b) a travel credential selected from the group consisting essentially of a passport, an immigration card and a visa; one or more induction coils disposed within the substrate underneath a length of the magnetic stripe; a control circuit disposed within the substrate that is connected to the one or more induction coils; an initiator mounted on the substrate; a memory disposed within the substrate; a processor disposed within the substrate and communicably coupled to the control circuit, the initiator and the memory, wherein the processor processes information received from the initiator, and whenever the user is successfully verified based on the received information: (a) accesses information stored in the memory, (b) generates a time varying code using an algorithm, one or more static variables and one or more time-based dynamic variables, and (c) activates the control circuit to generate a time-varying magnetic signal containing the accessed information and the time varying code by pulsing the one or more induction coils underneath the magnetic stripe, wherein the time-varying magnetic signal is transmitted to a magnetic stripe reader and emulates a data stream generated by swiping a static magnetic stripe card through the magnetic stripe reader but is not created by swiping the magnetic stripe of the apparatus through the magnetic stripe reader or using an adapter to interface with the magnetic stripe reader; and a power source disposed within the substrate and electrically connected to the control circuit, the initiator and the processor.