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Publication numberWO2003003321 A3
Publication typeApplication
Application numberPCT/US2002/020354
Publication date3 Apr 2003
Filing date26 Jun 2002
Priority date26 Jun 2001
Also published asUS20020198848, WO2003003321A2
Publication numberPCT/2002/20354, PCT/US/2/020354, PCT/US/2/20354, PCT/US/2002/020354, PCT/US/2002/20354, PCT/US2/020354, PCT/US2/20354, PCT/US2002/020354, PCT/US2002/20354, PCT/US2002020354, PCT/US200220354, PCT/US2020354, PCT/US220354, WO 03003321 A3, WO 03003321A3, WO 2003/003321 A3, WO 2003003321 A3, WO 2003003321A3, WO-A3-03003321, WO-A3-2003003321, WO03003321 A3, WO03003321A3, WO2003/003321A3, WO2003003321 A3, WO2003003321A3
InventorsJohn R Michener
ApplicantEntpr Solutions Inc, John R Michener
Export CitationBiBTeX, EndNote, RefMan
External Links: Patentscope, Espacenet
Transaction verification system and method
WO 2003003321 A3
Abstract
A user (12) enters into a token (100) a token PIN (112), and an identification number of a financial instrument and a transaction amount of a transaction to be verified. If the token PIN (112) is correct, a processor (106) in the token (100) increments a transaction count (117), and generates a first passcode 818) using an encryption process using a digest keyset (108) to digest the information entered into the token (100). The user (12) provides the first passcode (18), the transaction count (117), and an identification number (110) associated with the token (100) to a merchant (14), who then transmits this to a financial institution (20), along with the identification number of the financial instrument and the transaction amount. The financial institution (20) transmits this information to a verification server (22), which uses the digest keyset (108) associated with the token (100) to generate a second passcode (passcode2) by digesting the same quantities as used to generate the first passcode (18). The verification server (22) verifies the transaction responsive to whether the first (18) and second (passcode2) passcodes are equal, and to whether the transaction count (117) is greater than the last transaction count (117') associated with the token (100).
Patent Citations
Cited PatentFiling datePublication dateApplicantTitle
US5048085 *6 Oct 198910 Sep 1991International Business Machines CorporationTransaction system security method and apparatus
US6105013 *10 Mar 199815 Aug 2000Dallas Semiconductor CorporationMethod, apparatus, system and firmware for secure transactions
US6163771 *28 Aug 199719 Dec 2000Walker Digital, LlcMethod and device for generating a single-use financial account number
US6236981 *17 Nov 199722 May 2001British Telecommunications Public Limited CompanyTransaction system
Classifications
International ClassificationG06Q20/00, G07C9/00
Cooperative ClassificationG06Q20/04, G07C9/00039, G06Q20/385, G06Q20/24, G06Q20/401, G06Q20/12, G07F7/122
European ClassificationG06Q20/04, G06Q20/12, G06Q20/24, G07F7/12A, G06Q20/385, G06Q20/401, G07C9/00B6B
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