All the hardware and software needed for the Card to function is contained in the Host. The consumer will receive their personalized credit card in the mail. Enrollment may be achieved by one of either two methods. The consumer can go to his/her local bank to be enrolled with the encrypted account number and digitized fingerprint. Similarly, the card member may also self-enroll using the included enrollment device. Just like current credit card activation, simply call a toll free number to authorize and activate the card.
This process takes only a few minutes to complete. Once the Card is activated, it cannot be copied, tampered with, or modified in any way. Because the microprocessors and encrypted mathematical algorithms are sealed when the Host is manufactured, any attempt to open the Card will destroy the internal operating system and software rendering the Card useless.
For additional security the Card is programmed to rotate an encrypted PIN each time the Card is used. If the new PIN in the bank's computer does not match the new PIN inside the Card, the bank's computer will reject the transaction. Essentially the card number is never the same. "Dynamic" card numbers coupled with a rock solid fingerprint authentication system is how we feel the LaserCard technology can eliminate card fraud.
The technology is diverse and would not only function with traditional magnetic stripe cards. Our Patented LaserCard technology could apply to Smart Chip, RFID, Laser, and Barcode plastic cards. Quite simply we use fingerprint recognition to authenticate the card user in whichever format the card may be. We have provisions in our patents that also allow us to secure financial transactions with fingerprint recognition on Smartphones which, in select markets is currently being done with a 4 digit PIN.
The Card is ready to be integrated into the credit card, security card, and Smartphone industries. The Beta prototype is fully functional and available for demonstration.