Method and system for a virtual safe

Abstract

A transaction server for performing a transaction over a network using a virtual smart card the server comprising, a virtual smart card database having a plurality of records each record including a virtual card identification and a value corresponding to a single virtual smart card; a security module; an emulator for emulating a smart card, the emulator for receiving smart card commands and processing the commands in conjunction with the virtual smart card database and the security module; and a virtual card reader module for receiving the smart card commands and relaying the commands to the smart card emulator whereby transactions are performed over the network using one or more the records and the virtual smart card database.

Description

CROSS REFERENCE [0001] This application is a continuation of U.S. patent application Ser. No. 10 / 269,033, filed on Oct. 11, 2002, which is a continuation of PCT Application No. PCT / CA01 / 00504, filed on Apr. 17, 2001, claiming priority from Canadian Patent Application No. 2,305,247, filed on Apr. 14, 2000.TECHNICAL FIELD [0002] The invention relates to the field of electronic commerce systems, and more specifically to secure electronic commerce systems employing virtual smart cards. BACKGROUND OF THE INVENTION [0003] With the rapid increase in the number of consumers having access to the World Wide Web, a corresponding need for conducting commerce over the Internet has emerged. However, concerns with online security have undermined the evolution of electronic commerce as security issues have affected the required level of trust between online retailers and consumers. In traditional business transactions, trust is established face-to-face and supported by documentation that reduces li...

AI Technical Summary

Problems solved by technology

However, concerns with online security have undermined the evolution of electronic commerce as security issues have affected the required level of trust between online retailers and consumers.

In particular, the use of smart cards is expanding, further affecting the level of trust retailers and consumers have in electronic commerce.

For example, while inconvenient for the consumer, the consumer may physically travel to a bank or other institution that has an automated teller machine (ATM), or other similar device, in order to load value onto the smart card.

A further inconvenience exists in that not all banks have value loading machines.

One disadvantage of current smart card systems is that they are dependent on the use of two hardware components new to the mass consumer market: smart cards and smart card readers.

Without having large numbers of smart cards and card readers in use, there is little demand for them from consumers, which in turn makes it difficult to convince merchants to adopt these systems.

However, the traditional digital signature model is a complex and computationally expensive process when applied to mainstream business transactions over the Internet.

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