Abstract: A magnetic smartcard including a card base, an electric power source embedded in the card base which powers the magnetic smartcard, an at least partly ferromagnetic element embedded in the card base and arranged such that a portion of the ferromagnetic element is positioned at a location suitable for interfacing a magnetic card reader, a processor embedded in the card base which generates a modulated output corresponding to preselected card information and operative for updating the output in accordance with a preselected time schedule and an inductor operative to induce in the ferromagnetic element a modulated magnetic field corresponding to the modulated output.