1539results about "Credit schemes" patented technology

A financial transaction payment processor includes an account access request processor for receiving dynamic swipe data from a payment card through a merchant infrastructure. A fraud detection processor is connected to analyze a dynamic data obtained by the account access request processor that should agree with values pre-loaded in a Crypto-Table by a card manufacturer. A payment authorization processor is connected to receive a message from the fraud detection processor and to then forward a response to the merchant infrastructure.

The invention comprises online methods, systems, and software for improving the processing of payments from financial accounts, particularly credit and debit card payments made from consumers to merchants in online transactions. The preferred embodiment of the invention involves inserting a trusted third party online service into the payment authorization process. The trusted third party authenticates the consumer and authorizes the proposed payment in a single integrated process conducted without the involvement of the merchant. The authentication of the consumer is accomplished over a persistent communication channel established with the consumer before a purchase is made. The authentication is done by verifying that the persistent channel is open when authorization is requested. Use of the third party services allows the consumer to avoid revealing his identity and credit card number to the merchant over a public network such as the Internet, while maintaining control of the transaction during the authorization process.

A secure method of conducting an electronic transaction over a public communications network is provided which utilizes a pseudo-expiration date in the expiration date field of an authorization request. One of the preferred methods comprises:generating a per-card key associated with an account number;generating a message authentication code using the per-card key;converting the message authentication code into a pseudo expiration date;generating an authorization request for the transaction, the request having an expiration date field containing the pseudo expiration date; andverifying the message authentication code based on the pseudo expiration date.Another embodiment of the invention includes a method of conducting an electronic transaction over a public communications network, with a payment account number having an associated pseudo account number, comprising:(a) providing the pseudo account number with a control field indicating one of a plurality of key-generation processes to be used to generate an authentication key;(b) generating an authentication key associated with the pseudo account number using one of the plurality of key-generation processes indicated in the control field of the pseudo account number;(c) using the authentication key to generate a message authentication code specific to the transaction;(d) generating an authorization request message including the message authentication code and the pseudo account number; and(e) verifying the message authentication code using the indicated key-generation process and the authentication key.

A universal authentication token is configured to securely acquire security credentials from other authentication tokens and / or devices. In this manner, a single universal authentication token can store the authentication credentials required to access a variety of resources, services and applications for a user. The universal authentication token includes a user interface, memory for storing a plurality of authentication records for a user, and a secure processor. The secure processor provides the required cryptographic operations to encrypt, decrypt, and / or authenticate data that is sent or received by universal token. For example, secure processor may be used to generate authentication data from seed information stored in memory.