Token generating component
First Claim
1. A method for providing financial details from a mobile device of a user for use in a transaction, the method being performed on the mobile device of the user and including the steps of:
- generating, on a token generating component associated with the mobile device, a session-specific token by applying an algorithm stored on the token generating component with a dynamic key, the session-specific token generated by encrypting a customer identification number using the dynamic key and a seed value unique to the user;
retrieving, by the mobile device, financial details in a pre-determined format conforming to Track 2 data format for use in a transaction;
incorporating the session-specific token and the financial details into a modified form of the financial details including encrypting a portion of characters of the financial details using the session-specific token by incorporating a first portion of the session-specific token before a check digit of the financial details, incorporating a second portion of the session-specific token before a CVV field of the financial details, and replacing data in an account number field with the customer identification number; and
transferring the modified form of the financial details in the predetermined format from the mobile device to an issuing authority to initiate the transaction, the issuing authority validating the session-specific token within the modified form of the financial details before authorizing the transaction.
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Accused Products
Abstract
The invention provides a method and system for providing financial details from a mobile device of a user for use in a transaction. The method is performed on a mobile device of the user and includes the steps of generating, on a token generating component, a session-specific token by applying an algorithm requiring a dynamic key; providing financial details for use in a transaction; incorporating the session-specific token and the financial details into a modified form the financial details; and transferring the modified form of the financial details from the mobile device to initiate the transaction. A corresponding method and system for validating financial details received, at a server of an issuing authority, is also provided.
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Citations
20 Claims
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1. A method for providing financial details from a mobile device of a user for use in a transaction, the method being performed on the mobile device of the user and including the steps of:
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generating, on a token generating component associated with the mobile device, a session-specific token by applying an algorithm stored on the token generating component with a dynamic key, the session-specific token generated by encrypting a customer identification number using the dynamic key and a seed value unique to the user; retrieving, by the mobile device, financial details in a pre-determined format conforming to Track 2 data format for use in a transaction; incorporating the session-specific token and the financial details into a modified form of the financial details including encrypting a portion of characters of the financial details using the session-specific token by incorporating a first portion of the session-specific token before a check digit of the financial details, incorporating a second portion of the session-specific token before a CVV field of the financial details, and replacing data in an account number field with the customer identification number; and transferring the modified form of the financial details in the predetermined format from the mobile device to an issuing authority to initiate the transaction, the issuing authority validating the session-specific token within the modified form of the financial details before authorizing the transaction. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15)
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16. A system for providing financial details from a mobile device of a user for use in a transaction, the system being provided on the mobile device of the user and including:
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a token generating component associated with the mobile device for generating a session-specific token by applying an algorithm stored on the token generating component with a dynamic key, the session-specific token generated by encrypting a customer identification number using the dynamic key and a seed value unique to the user; a financial details component for providing financial details in a pre-determined format conforming to Track 2 data format for use in a transaction; a format modifying component for incorporating the session-specific token and the financial details into a modified form of the financial details including encrypting a portion of characters of the financial details with the session-specific token by incorporating a first portion of the session-specific token before a check digit of the financial details, incorporating a second portion of the session-specific token before a CVV field of the financial details, and replacing data in an account number field with the customer identification number; and a communication component for transferring the modified form of the financial details in the pre-determined format from the mobile device to an issuing authority to initiate the transaction, the issuing authority being caused to validate the session-specific token within the modified form of the financial details before authorizing the transaction. - View Dependent Claims (17, 18, 19)
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20. A computer program product for providing financial details from a mobile device of a user for use in a transaction, the computer program product comprising a computer-readable medium having stored computer-readable program code for performing the steps of:
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generating, on a token generating component associated with the mobile device, a session-specific token by applying an algorithm stored on the token generating component with a dynamic key, the session-specific token generated by encrypting a customer identification number using the dynamic key and a seed value unique to the user; providing financial details in a pre-determined format conforming to Track 2 data format for use in a transaction; incorporating the session-specific token and the financial details into a modified form of the financial details including encrypting a portion of characters of the financial details with the session-specific token by incorporating a first portion of the session-specific token before a check digit of the financial details, incorporating a second portion of the session-specific token before a CVV field of the financial details, and replacing data in an account number field with the customer identification number; and transferring the modified form of the financial details in the predetermined format from the mobile device to an issuing authority to initiate the transaction, the issuing authority validating the session-specific token within the modified form of the financial details before authorizing the transaction.
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Specification