US 11176538

Here's a concise summary of US Patent 11176538:

US Patent 11176538

• Title: Multi-function smart tokenizing electronic payment device
• Assignee: Virtual Electric Inc. (Original Assignee) and CardWare Inc. (Current Assignee)
• Inventors: David Wyatt
• Filing Date: October 20, 2020
• Issue Date: November 16, 2021
• Abstract: An embodiment includes a multi-function electronic device capable of generating a programmed magnetic field of alternating polarity based on a speed of a card swipe, and methods for constructing the device for the purpose of emulating a standard credit card. An apparatus is described to allow said device to emulate behavior of a credit card when used in electronic credit card readers. Additionally, methods are described to allow user control of the device for the purpose of authorizing or controlling use of the device in the application of credit, debit, and cash transactions, including cryptocurrency and device-to-device transactions. Methods are also described for generating a limited-duration payment number when performing a transaction for the purpose of creating a limited-use payment number, which is limited in scope of use to a predetermined number of authorized transactions. Furthermore, the device may interact with other similar devices in proximity for the purpose of funds or credit/debit transfers.

Plain-Language Overview of Independent Claims:

• Independent Claim 1: This claim describes an apparatus (a device) for conducting credit transactions. It includes:
  • A device shaped and sized like a standard credit card.
  • An inductor assembly within the device that can create a programmed magnetic field where a credit card reader would interact. This magnetic field can be read by a standard magnetic-strip reader.
  • At least one auxiliary detection unit next to the inductor assembly that senses how fast the device is moving through the credit card reader.
  • A microprocessor connected to both the inductor assembly and the detection unit. This microprocessor uses the information from the detection unit to simulate magnetic-strip data fields at the correct speed using the inductor assembly.
• Independent Claim 8: This claim describes a multi-function electronic device that features:
  • A near-field communication (NFC) unit.
  • A touch sensor array for user input.
  • A display.
  • A motion rate detection array.
  • Memory to store user data and currency amounts.
  • A processor connected to all these components.
  • The processor initiates a device-to-device transaction between two such devices when they are detected to be near each other and a user provides input via the touch sensor array. This transaction involves exchanging stored currency and user data between the devices using the NFC unit.
• Independent Claim 13: This claim outlines a method for performing a transaction, comprising:
  • Receiving an input signal from a user at a multi-function electronic device, which activates the device's near-field communication (NFC) unit.
  • Receiving an indication of the transaction's currency amount.
  • Generating a limited-duration payment number on the device.
  • Transmitting this limited-duration payment number from the device to the recipient of the transaction.
• Independent Claim 14: This claim also describes an apparatus for conducting credit transactions, but specifically notes that the device's edge contains a connector (like a USB interface) for connecting to standard computing devices.

CAFC 2026 Dockets:

No specific mention of patent 11176538 was found in the CAFC 2026 dockets. The search results provided general information about patent litigation and Federal Circuit cases in 2026, but did not list any dockets specifically involving US11176538.