US Patent Issued to iCashe on Jan. 13 for "Mobile device with time-varying magnetic field and single transaction account numbers" (American, Indian Inventors)

ALEXANDRIA, Va., Jan. 13 -- United States Patent no. 12,524,641, issued on Jan. 13, was assigned to iCashe Inc. (Portland, Ore.).

"Mobile device with time-varying magnetic field and single transaction account numbers" was invented by Siva G. Narendra (Portland, Ore.), Thomas N. Spitzer (Portland, Ore.) and Prabhakar Tadepalli (Bangalore, India).

According to the abstract* released by the U.S. Patent & Trademark Office: "An electronic transaction card communicates with an add-on slot of an intelligent electronic device. The add-on slot may be a memory card slot. The intelligent electronic device may be a mobile phone or other device with or without network connectivity. The electronic transaction card may have magnetic field producing circ...