If it works, this could represent a different payment data strategy, because it would make the card data useless to a thief. The full Patent description also discusses how a mobile phone can be integrated into the process for additional payment authorizations. That phone would alert the consumer if someone tried using the card.
It's not clear whether the business plan will fly, though, given that each card costs about $6, the only retailer the company says it's talking with is Target and there are only 18,000 current cardholders, according to Nancy M. Torosian, CFO for Assured Debit Card LLC. But it is a novel approach to payment card security. That Patent makes for interesting reading.