HK1228061B - Magnetic secure transmission device hardware - Google Patents

Description

Magnetic secure transmission device hardware

This application is a divisional application of the invention patent application with application number 201580000203.3.

Cross-Reference to Related Co-Pending Applications

This application is a continuation-in-part of U.S. application No. 14/329,130, filed on July 11, 2014, and claims priority to U.S. application No. 14/329,130, filed on July 11, 2014, which is a continuation-in-part of U.S. application No. 13/826,101, filed on March 14, 2013, and which claims priority to U.S. provisional application No. 61/754,608. U.S. application No. 14/329,130 is a continuation-in-part of U.S. application No. 13/867,387, filed on April 22, 2013, which is a continuation-in-part of U.S. application No. 13/826,101, filed on March 14, 2013, which claims priority to U.S. provisional application No. 61/754,608, filed on January 20, 2013, all of which are incorporated herein by reference in their entirety.

Technical Field

The present invention relates to a system and method for a baseband near-field magnetic stripe data transmitter, and more particularly to a magnetic stripe data transmitter for transmitting payment card data from a smartphone or other electronic device to a point-of-sale transaction terminal by pressing a payment button on the smartphone or the magnetic stripe data transmitter.

Background Art

Magnetic stripe payment cards carry a magnetic stripe containing the payment card data. These cards include credit cards, debit cards, gift cards, and coupon cards. Data is "written" onto the stripe by altering the orientation of the magnetic particles embedded within it. At the point of sale (POS), card data is read from the stripe by swiping the card through a magnetic stripe reader. The reader consists of a reader head and associated decoding circuitry. As the card is swiped through the reader, the magnetic stripe moves in front of the reader head. The moving magnetic stripe (containing magnetic domains of alternating polarity) generates a fluctuating magnetic field within the narrow sensing aperture of the reader head. The reader head converts this fluctuating magnetic field into an equivalent electrical signal. The decoding circuitry amplifies and digitizes this electrical signal, reproducing the same data stream originally written to the stripe. Magnetic stripe encoding is described in international standards ISO 7811 and 7813.

With the increasing popularity and capabilities of smartphones, there is a growing desire to use them as mobile wallets and for payments at the point of sale. A key obstacle to this is the lack of a data transmission channel between the mobile phone and the point-of-sale terminal. A variety of alternatives have been proposed. These include manually keying in data displayed on the phone screen into the POS terminal, 2D barcodes displayed on the phone screen and read by a 2D barcode reader, radio frequency identification (RF ID) tags attached to the phone, and built-in near-field communication (NFC) hardware driven by an app in the phone. Of these approaches, 2D barcodes and NFC are the most promising. However, the lack of suitable readers at the point of sale has hindered their widespread adoption, and in the case of NFC, many smartphones lack standardized NFC capabilities.

Therefore, there is a need for improved apparatus and methods for remotely transmitting payment card data or other information from a smartphone or other electronic device to a point-of-sale transaction terminal.

Summary of the Invention

The present invention describes a system and method for a baseband near-field magnetic stripe data transmitter that remotely transmits payment card data or other information from a smartphone or other electronic device to a point-of-sale transaction terminal by pressing a payment button on the smartphone or magnetic stripe data transmitter.

In general, in one aspect, the present invention provides a system for baseband near-field magnetic stripe data transmission, comprising a mobile phone, a magnetic stripe transmission (MST) device, and a payment button. The mobile phone includes a payment wallet application and is configured to transmit a pulse stream comprising magnetic stripe data from a payment card. The magnetic stripe transmission (MST) device includes a driver and an inductor. The MST device is configured to receive the pulse stream from the mobile phone, amplify and shape the received pulse stream, and generate and transmit high-energy magnetic pulses comprising the magnetic stripe data from the payment card. The inductor is driven by a series of timed current pulses that generate a series of high-energy magnetic pulses similar to the fluctuating magnetic field generated by a moving magnetic stripe. The payment button is configured to be associated with a preselected payment card, and activation of the payment button initiates the emission of high-energy magnetic pulses comprising the magnetic stripe data from the preselected payment card.

Embodiments of this aspect of the invention include the following. The payment button is disposed in the MST device or a mobile phone. The mobile phone is configured to receive a notification signal when the payment button is triggered. The payment button is configured to be activated remotely via a wireless connection. The transmitted card data can be recovered from the memory of the mobile phone or from a memory contained within the MST device. The transmitted high-energy magnetic pulses are configured to be picked up remotely by a magnetic reader head. The MST device shapes the received pulse stream to compensate for shielding, eddy current losses, and the limited inductance value of the magnetic reader head. The magnetic reader head includes a magnetic reader head inductor, and the inductor of the MST is configured to form a loosely coupled transformer with the magnetic reader head inductor from a distance greater than 0.5 inches away. The inductor of the MST includes an iron core or a ferrite core that is designed not to saturate under high currents passing through the inductor.

In general, on the other hand, the present invention provides a system for baseband near-field magnetic stripe data transmission, the system comprising a mobile phone and a magnetic stripe transmission (MST) device and a payment button. The mobile phone is configured to transmit a pulse stream comprising magnetic stripe data of a payment card. The magnetic stripe transmission (MST) device comprises a driver and an inductor, the MST device being configured to receive the pulse stream from the mobile phone, amplify and shape the received pulse stream, and generate and transmit high-energy magnetic pulses comprising magnetic stripe data of the payment card. The transmitted high-energy magnetic pulses are configured to be remotely picked up by a magnetic read head. The inductor comprises one or more windings configured to generate magnetic flux lines distributed over a sufficiently large area, the sufficiently large area being sized to include the sensing aperture of the magnetic read head, and to produce an inductance value configured to cause correctly timed current pulses to reach their maximum values and thereby induce a maximum induced voltage in the magnetic read head. The payment button is configured so that it is associated with a preselected payment card, and activation of the payment button initiates emission of a high-energy magnetic pulse comprising magnetic stripe data of the preselected payment card.

In general, on the other hand, the present invention provides a magnetic stripe data transmission (MST) device, which includes a driver, an inductor and a payment button. The MST device is configured to receive a pulse stream including magnetic stripe data of a payment card, shape and amplify the received pulse stream, and generate and transmit high-energy magnetic pulses including the magnetic stripe data of the payment card. The transmitted high-energy magnetic pulses are configured to be remotely picked up by a magnetic reading head. The payment button is set to be associated with a pre-selected payment card. Triggering the payment button causes the MST device to receive a pulse stream including magnetic stripe data of a pre-selected payment card, shape and amplify the received pulse stream, and generate and transmit high-energy magnetic pulses including magnetic stripe data of the pre-selected payment card. The magnetic stripe data of the pre-selected payment card is stored in the memory of the MST or the memory of the mobile phone.

BRIEF DESCRIPTION OF THE DRAWINGS

Referring to the drawings, wherein like reference numerals represent like parts throughout the several views.

FIG1 is an overview of a baseband near-field magnetic stripe data transmitter system according to the present invention;

FIG2 is a schematic diagram of a typical inductor for generating a desired magnetic field according to the present invention;

FIG3 is an overview diagram of another embodiment of a baseband near-field magnetic stripe data transmission system according to the present invention;

FIG4 is an overview diagram of another embodiment of a baseband near-field magnetic stripe data transmission system according to the present invention;

FIG5 is a graphical diagram illustrating the variation of the inductor current and the output voltage of the magnetic reader head over time for the embodiment shown in FIG4 ;

Figure 6 depicts an array of two inductors;

Figure 7 depicts the inductor magnetic field; and

FIG8 is an overview diagram of another embodiment of a baseband near-field magnetic stripe data transmission system according to the present invention.

DETAILED DESCRIPTION

The present invention describes a system and method for a baseband near-field magnetic stripe data transmitter that transmits payment card data from a smartphone or other electronic device to a point-of-sale transaction terminal by pressing a payment button on the smartphone or magnetic stripe data transmitter.

The subject of this invention, baseband near-field magnetic stripe transmission (MST), utilizes a pulsed modulated magnetic field to transmit data from a smartphone to a POS terminal from a remote location. The system is capable of transmitting card data to a POS terminal reader without contact with the reader head, without being in close proximity (less than 1 mm) to the reader head, or without requiring insertion into a card reader slot. Furthermore, the system eliminates the need for the swiping motion required by magnetic stripe cards, such as those described by Narenda et al. in U.S. Patent No. 7,954,716, or prior art magnetic stripe emulation or electronic magnetic stripes.

The magnetic field is generated by a specially designed inductor driven by a high-power driver circuit. The unique structure of the inductor results in a complex omnidirectional magnetic field that is able to penetrate the magnetic stripe reader head located inside the POS terminal from a distance.

Referring to FIG. 2 , inductor 124 comprises one or more rectangular wire bundles 125 having outer dimensions of approximately 40 x 30 mm and a bundle thickness of 3 mm. The inductance of inductor 124 is set so that correctly timed current pulses reach their maximum value at the end of each pulse. Furthermore, the ratio of the inductance to the winding resistance is crucial in shaping the current from the driver circuit to generate a magnetic field that approximates the magnetic signal seen by a magnetic reader head when a magnetic stripe card is passed in front of it. In one example, the ratio of inductance to winding resistance is 80 μH/Ohm.

The physical shape of the inductor ensures that the magnetic flux lines are distributed over a large enough area to include the sensing aperture of the reader head. The inductor windings can be enameled insulated magnetic wire, or alternatively, the inductor can be implemented as a spiral inductor formed from wire arranged on a rigid or flexible printed circuit substrate.

Although the inductor is fixed, it is driven by a series of timed current pulses that produce a series of magnetic pulses similar to the fluctuating magnetic field produced by a moving magnetic stripe. The magnetic field is modulated following the standard magnetic stripe encoding, which in turn results in a stream of electrical pulses at the reader's output that is identical to that obtained from the magnetic stripe.

A key benefit of MST is that it fits into the existing infrastructure of point-of-sale card payment terminals. Unlike NFC or 2D barcodes, no external readers or new terminals need to be installed.

Referring to FIG. 1 , in one embodiment 100 of the present invention, a suitable driver 122 and inductor 124 are contained in a small box 120 that connects to the audio jack 112 of a mobile phone 110. Smartphone 110 has a wallet software application 102 installed. Phone 110 is connected to a magnetic stripe transport 120 via its audio jack 112. To make a payment at a point of sale equipped with a conventional card payment terminal capable of reading standard ISO/ABA magnetic stripe cards 140, a consumer selects the wallet application 102 on their smartphone 110 and chooses a pre-loaded payment card (i.e., Visa, MasterCard, Amex) that they wish to use for payment. The consumer holds their phone close (1 to 2 inches) to the point of sale terminal 140 and presses the pay icon/button 104 on their phone 110. The wallet application 102 in phone 110 sends a pulse stream containing the magnetic stripe data of the selected card to the MST 120 via the audio jack 112. The MST 120 amplifies, shapes, and transmits the pulses in the form of appropriately modulated, high-energy magnetic pulses 130. These pulses are picked up by a magnetic stripe reader head 142 located at a point-of-sale payment terminal 140 and converted into electrical pulses. The resulting electrical pulses are decoded by a decoder 144 and processed by its central processing unit (CPU) 146, just as it would a standard magnetic stripe card swiped through its reader's slot. The merchant enters the payment amount, and the transaction is sent by the POS terminal 140 via the network 150 to the payment transaction processor 160. The transaction processor 160 returns a transaction authorization, and the POS terminal 140 prints a receipt. Aside from the card entry method, the entire transaction is completed in the same manner as with a standard magnetic stripe card.

In another embodiment of the MST 120 , security is improved by the smartphone supplementing the transaction transmitted by the payment terminal with a separate secure wireless message sent to the processor, where the two transactions are combined for verification purposes.

3 , in another embodiment, the MST 120 is integrated with a magnetic stripe reader (MSR) head 142a to form a single device capable of reading and transmitting magnetic stripe information. The combination of the MST and MSR, together with the electronic wallet 102, provides a convenient and secure way to load payment cards into the electronic wallet and subsequently transmit the payment card data to the POS system 140. In addition, this embodiment allows for convenient face-to-face payments using credit or debit cards, where each person is equipped with an MST and can transmit their card information to another person's mobile phone using the card reader included in that person's MST.

In another embodiment, magnetic stripe transmission is used to transmit tokenized card data to a point-of-sale terminal. In this embodiment, the actual payment card number, or a portion of it, is replaced by a cryptographically generated token formatted as track data, including token data. The token data is formatted to resemble a standard primary account number (PAN). The PAN may include a valid bank identification number (BIN). Such a token can be downloaded from the card issuer, another online source, or generated locally. By transmitting a cryptographically generated token valid only for a single transaction, the transmission of the token's MST replaces the transmission of the valid card number, eliminating the security risks present in standard magnetic stripe cards, all without requiring changes to existing point-of-sale hardware. In other embodiments, to increase compatibility with existing point-of-sale hardware and software, more than one track of data is transmitted. In these embodiments, track 1 data may be transmitted followed by track 2 data, or track 1 data may be transmitted followed by track 2 data.

In a further embodiment, the MST 120 also includes a secure microcontroller 126 that provides secure local storage of card data and directly drives the inductor drive circuit 122. This embodiment allows the MST to operate in a store-and-transmit mode away from the phone. In certain embodiments, the MST also includes volatile and non-volatile memory for secure storage of card data and other personal information.

Yet another possible embodiment uses Bluetooth ^™ communication between the mobile phone 110 and the MST 120 , wherein bidirectional communication is employed to increase security and flexibility, including the ability to recover card data stored in the secure element formed by the secure microcontroller 126 of the MST via the mobile phone.

In another possible implementation, the MST 120 uses its built-in secure microcontroller 126 to partially or fully encrypt the card data and transmit it to the point-of-sale card reader via a magnetic field.

In another possible embodiment, the payment card data includes dynamically changing card verification value (CVV) data. In this case, due to the dynamic change of CVV data, the security of the transaction is improved.

Referring to FIG4 , in another embodiment 100 of the present invention, a magnetic stripe transmitter (MST) 120 includes a waveform shaper 121, a bipolar driver 123, and a loop inductor 124. A smartphone 110, installed with a wallet software application 102, connects to the magnetic stripe transmitter 120 via its audio jack 112. To complete a payment at a point-of-sale (POS) terminal equipped with a conventional card payment terminal capable of reading standard ISO/ABA magnetic stripe cards 140, a consumer selects the wallet application 102 on their smartphone 110 and chooses a pre-loaded payment card (i.e., Visa, MasterCard, Amex) they wish to use for payment. The consumer holds their smartphone close (1 to 2 inches) to the POS terminal 140 and presses the payment icon/button 104 on their smartphone 110. The wallet application 102 on the smartphone 110 transmits a pulse stream containing the magnetic stripe data of the selected payment card to the MST 120 via the audio jack 112. The MST 120 amplifies, shapes, and transmits the pulses in the form of appropriately modulated high-energy magnetic pulses 130. Magnetic pulses 130 are picked up by a magnetic stripe reader head 142 located at a point-of-sale payment terminal 140 and converted into electrical pulses. The resulting electrical pulses are decoded by a decoder 144 and processed by its central processing unit (CPU) 146, just as it would a standard magnetic stripe card swiped through its reader's card slot. The merchant enters the payment amount, and the transaction is sent by the POS terminal 140 to the payment transaction processor 160 via network 150. The transaction processor 160 returns a transaction authorization, and the POS terminal 140 prints a receipt. Aside from the card entry method, the entire transaction is completed in the same manner as a standard magnetic stripe card.

The magnetic stripe reader heads used in point-of-sale terminals are designed to be sensitive only to magnetic fields that originate near or within their sensing aperture, which is located directly in front of the head. They are designed to ignore external magnetic fields outside this sensing aperture. The expected pickup distance is a fraction of an inch, and the sensitive field is only a few degrees wide. In addition, as shown in Figure 4, the reader head is surrounded by a metal shield 141, which greatly attenuates varying magnetic fields outside the reader head's sensing aperture. Furthermore, the shield 141 is connected to the terminal's frame ground, which shunts common mode signals originating externally to ground. The purpose of these design features is to ensure that the head does not pick up noise from nearby electrical devices, transmitters, or cell phones. These same design features also prevent remote sensing of card data when using ordinary inductors, as well as pulses similar to those generated by a moving magnetic stripe.

Therefore, penetrating the reader head's shield 141 from distances greater than 0.5 inches and at most angles requires special techniques, which are the subject of the present invention. These techniques ensure that the signal reaching the head's internal inductor is undistorted and has the correct shape and timing. To meet these requirements, the MST 120 utilizes a waveform shaper to pre-shape the waveform to compensate for the effects of shielding, eddy currents, and the limited inductance of the reader head 142. Referring to Figure 5, a large DC component 81 is added to the inductor current 80 to compensate for the rapidly collapsing magnetic field within the reader head's shield 141 and the relatively low inductance of the reader head windings. In addition, the bandwidth of the reader head amplifier is limited. To achieve sufficient induced signal amplitude, the pulse rise time 82 is controlled between 10 and 60 microseconds. This ensures that the pulse rise time falls within the bandwidth of the reader head amplifier but does not exceed the timing limitations of the decoder circuitry.

Furthermore, to achieve the required penetration from distances beyond 0.5 inches, a suitable driver 123 must deliver magnetic pulses with sufficiently large currents (over 1 A). Furthermore, to produce the correct output at the reader head, the current must be bipolar and must contain a large DC component, exceeding 40% of the peak current.

The MST's inductive device 124 is specifically designed to form a loosely coupled transformer with the card reader head 142 from a distance greater than 0.5 inches, with the MST's inductor 124 being the primary inductor and the reader head's inductor being the auxiliary inductor. Due to the very free coupling between the primary and auxiliary inductors, and because of the high losses introduced by the head's shield 141, as well as losses due to eddy currents, the current driving the inductor must have a specific level and shape. Therefore, the generated magnetic field must be strong enough to compensate for these losses and direct an adequate signal into the reader head's inductor.

Therefore, the inductor 124 is designed to have a very specific set of characteristics that make it suitable for the transmission function. Its winding resistance is low enough to provide the high current required to generate a strong magnetic field. At the same time, it has sufficient inductance to control the rise time of the current pulse. The required inductance requires a large number of coils (more than 20) with the winding resistance increasing by no more than 3 ohms. At the same time, as shown in Figure 7, the inductor is shaped to provide a sufficiently well-distributed magnetic field with few nulls. Such an inductor is a single inductor that encloses a large area (between 600 and 1700 square millimeters), as shown in Figure 2, or an array 180 consisting of two or more inductors 182a, 182b that are spatially distributed and cover the same area, as shown in Figure 6. The inductor has an iron or ferrite core that is designed not to saturate under the high current driven through the inductor. In one example, the length 92 of the inductor 124 ranges from 15 mm to 50 mm. In another example, the MST 120 includes an array 180 consisting of two inductors 182a, 182b separated by a distance of 15 mm to 50 mm.

Traditional magnetic stripe data formats do not contain features to prevent them from being copied. While MST transmits card data in a magnetic stripe format, the actual data transmitted is not necessarily the same as the data contained in the physical card's magnetic stripe.

The MST of the present invention includes a secure transmission option in which card data is modified appropriately by replacing a portion of an arbitrary data field with a cryptographically generated dynamic element. The secure data element, generated in the phone or in the MST's hardware, contains a secure hash generated using the card data, the MST ID, and a serial number, encrypted using a key provided by the card issuer or another third party, with the serial number incrementing for each transmission. The issuer of the key can use the key to calculate the secure hash and, therefore, verify that the transaction was initiated from a legitimate device using legitimate card data. Because the secure hash changes in an unpredictable manner with each transaction, a fraudster (who does not know the key) cannot calculate a valid hash for a new transaction. Because each transaction includes a serial number, the recipient can identify a replay. Furthermore, because the secure hash replaces a key portion of the original arbitrary data field, data extracted from an MST transaction is unsuitable for producing a valid counterfeit card.

By modifying only the portion of the card data that is not used by retailers and acquirers, the solution retains compatibility with existing retail POS and acquirer processing systems.

Referring to FIG8 , in another embodiment 100 of the present invention, the magnetic stripe transmission (MST) 120 further includes a payment button ("Push Button Pay") 170. Push Button Pay 170 is configured to be associated with a specific pre-selected payment card stored in an electronic wallet. As shown in FIG8 , the electronic wallet 102 or 102' may be located within a mobile phone 110 or MST 120. Pressing Push Button Pay 170 causes the data of the specific pre-selected payment card to be transmitted to a point-of-sale payment terminal 140. Thus, to complete a payment at a point-of-sale equipped with a conventional card payment terminal capable of reading a standard ISO/ABA magnetic stripe card 140, a consumer presses Push Button Pay 170 on the MST 120, and the system automatically selects the specific payment card pre-programmed and pre-selected to be associated with Push Button Pay 170, causing the mobile phone 110 to transmit a pulse stream containing the magnetic stripe data of the pre-selected card to the MST 120. The MST 120 amplifies, shapes, and transmits a pulse stream containing the magnetic stripe data of a preselected card in the form of appropriately modulated high-energy magnetic pulses 130. The magnetic pulses 130 are picked up by a magnetic stripe reader head 142 located at a point-of-sale payment terminal 140 and converted into electrical pulses. The resulting electrical pulses are decoded by a decoder 144 and processed by its central processing unit (CPU) 146. The merchant enters the payment amount, and the transaction is sent by the POS terminal 140 to the payment transaction processor 160 via the network 150. The transaction processor 160 returns a transaction authorization, and the POS terminal 140 prints a receipt. Other embodiments include one or more of the following. A button 104 in a mobile phone is configured to associate it with a specific payment card, acting like a push-button payment. The user is notified by the mobile phone that push-button payment has been activated. The MST device is separated from the mobile phone, and push-button payment is remotely activated via the mobile phone's Bluetooth network.

Push-button payments are incredibly convenient because users don't have to open their digital wallets and select a card, nor do they have to present their physical wallets and cards to the cashier. This convenience has led to a shift in consumer habits, which is crucial for card issuers. Typically, with a physical or digital wallet, consumers have a relatively easy choice to pull out or select one of the several cards in their wallet, often based on a "strategy" (Amex for entertainment, Visa for purchases, Visa debit for groceries, etc.). Push-button payments are conveniently linked to a single card, so that that card is used for everything, changing the relatively uniform treatment offered by traditional or digital wallets to favor one card over another. The average time to make a payment using push-button payments is 3-4 seconds, compared to 17-22 seconds for a physical card and 14-17 seconds for a card stored in a digital wallet.

The above describes a number of embodiments of the present invention. However, it should be understood that various modifications may be made to the present invention without departing from the spirit and scope of the present invention. Therefore, other embodiments are also within the scope of the claims.

Claims (25)

1. A magnetic security transmission device, comprising: A payment button, programmed to be associated with a pre-selected payment card. A driver configured to drive an inductor using a series of timed current pulses associated with magnetic stripe data of the pre-selected payment card; and The inductor, having one or more windings, is configured to emit magnetic pulses based on the series of timing current pulses. The inductor is configured to give the series of timing current pulses a rise time, and one or more windings of the inductor are configured to generate magnetic pulses that can be picked up by the magnetic stripe reader head without contact. Specifically, the rise time is controlled within a predetermined range to obtain a sufficient amplitude of the sensing signal at the magnetic stripe reader head; and The triggering of the payment button initiates the emission of a magnetic pulse that includes the magnetic stripe data of the pre-selected payment card, without requiring operation of the wallet application to select the pre-selected payment card. 2. The device of claim 1, wherein the winding of the inductor is formed on a planar substrate layer. 3. The device of claim 1, wherein the inductor comprises a plurality of windings laid on a substrate of a printed circuit board. 4. The device of claim 3, wherein the winding comprises a rectangular wire harness. 5. The device as claimed in claim 1, wherein, The magnetic stripe data of the pre-selected payment card includes first data corresponding to the first track data and second data corresponding to the second track data; and The transmission of the magnetic pulse includes the transmission of the second data followed by the transmission of the first data, or includes the transmission of the first data followed by the transmission of the second data. 6. The device as claimed in claim 1, wherein, The magnetic stripe data of the pre-selected payment card includes first data corresponding to the first track data and second data corresponding to the second track data. 7. The device of claim 1, wherein the transmission of the magnetic pulse includes the transmission of data, the data being generated based on dynamic elements encrypted to replace a portion of the magnetic strip data. 8. The apparatus of claim 1, further comprising: The device generates secure data elements, which include a secure hash generated from payment card data, device ID, and serial number, and is encrypted with a key provided by the card issuer or another third party. The serial number increments for each transmission. 9. The device of claim 1, wherein the driver comprises a bipolar driver to generate a bipolar current pulse with a peak value exceeding 1 ampere. 10. A magnetic security transmission device, comprising: A payment button, programmed to be associated with a pre-selected payment card. The memory is used to store information related to the wallet application and multiple payment cards, including the pre-selected payment card. The controller is configured to: i) Execute the wallet application to select one of the plurality of payment cards based on user input, and transmit a pulse stream associated with the magnetic stripe data of the selected payment card, and ii) In response to the triggering of the payment button without operating the wallet application to select one of a plurality of payment cards, a pulse stream associated with the magnetic stripe data of the pre-selected payment card is transmitted; A driver, configured to drive an inductor using a series of timing current pulses in response to the pulse current; and The inductor, having windings formed on a substrate layer, is configured to emit magnetic pulses based on the output of the driver. The series of timing current pulses are used to drive the inductor to generate magnetic pulses, which can be picked up by the magnetic stripe reader head without contact. Specifically, the rise time of the series of timing current pulses is controlled within a predetermined range to obtain sufficient induction signal amplitude in the magnetic stripe reader head. 11. The apparatus of claim 10, further comprising: The device generates secure data elements, which include a secure hash generated from payment card data, device ID, and serial number, and is encrypted with a key provided by the card issuer or another third party. The serial number increments for each transmission. 12. The device of claim 10, wherein the controller is configured to encrypt payment card information using a token downloaded from the card issuer, the token being valid only for a single magnetic stripe transfer transaction. 13. The device of claim 10, wherein the controller is configured to receive a key provided by the card issuer or another third party and to encrypt payment card information using the key before transmission. 14. A magnetic security transmission device, comprising: A payment button, programmed to be associated with a pre-selected payment card. A driver configured to output a series of timing current pulses associated with the magnetic stripe data of the pre-selected payment card; and An inductor, coupled to the driver and having an inductance value, when driven by the output of the series of timing current pulses from the driver, causes the emission of magnetic pulses with rise times, analogous to the fluctuating magnetic field generated by a moving magnetic strip. The magnetic pulses are picked up without contact by the magnetic stripe reader head, which is located at the point of sale (POS) payment terminal. Specifically, the rise time is controlled within a predetermined range to obtain a sufficient amplitude of the sensing signal in the magnetic stripe reader head; and The payment button triggers the emission of a magnetic pulse that includes the magnetic stripe data of the pre-selected payment card, without requiring the wallet application to select the pre-selected payment card. 15. The apparatus of claim 14, further comprising: Storage used to store the wallet application. A controller configured to execute the wallet application to select one of a plurality of payment cards based on user input and transmit a pulse stream associated with the magnetic stripe data of the selected payment card. 16. The apparatus of claim 14, further comprising: The device generates secure data elements, which include a secure hash generated from payment card data, device ID, and serial number, and is encrypted with a key provided by the card issuer or another third party. The serial number increments for each transmission. 17. The device of claim 14, wherein the inductor comprises a plurality of windings formed on a planar substrate layer. 18. The device of claim 14, wherein the inductor comprises a plurality of windings disposed on a substrate of a printed circuit board. 19. The device of claim 18, wherein the winding comprises a rectangular wire harness. 20. The device as claimed in claim 14, wherein, The magnetic stripe data of the pre-selected payment card includes first data corresponding to the first track data and second data corresponding to the second track data; and The transmission of the magnetic pulse includes the transmission of the second data followed by the transmission of the first data, or includes the transmission of the first data followed by the transmission of the second data. 21. The device as claimed in claim 14, wherein, The magnetic stripe data of the pre-selected payment card includes first data corresponding to the first track data and second data corresponding to the second track data. 22. The device as claimed in claim 14, wherein, The transmission of the magnetic pulse includes the transmission of data, which is generated based on dynamic elements encrypted from a portion of the data that replaces the magnetic stripe data. 23. The device of claim 14, wherein the driver comprises a bipolar driver to generate a bipolar current pulse with a peak value exceeding 1 ampere. 24. The apparatus of claim 14, further comprising: A controller configured to encrypt payment card information using a token downloaded from the card issuer, the token being valid only for a single magnetic stripe transfer transaction. 25. The apparatus of claim 14, further comprising: A controller, wherein the controller is configured to receive a key provided by the card issuer or another third party, and to encrypt payment card information using the key prior to the magnetic pulse transmission corresponding to the payment card.