Systems and methods for multifactor authentication

• US 10,726,417 B1
• Filed: 09/18/2012
• Issued: 07/28/2020
• Est. Priority Date: 03/25/2002
• Status: Active Grant

• Current Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Original Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Inventors: Everhart, Glenn Cobourn
• Primary Examiner(s): Qayyum, Zeshan
• Assistant Examiner(s): Zhou, Yingying
• Application Number:
  US13/621,995
• Time in Patent Office: 2,870 Days
• CPC Class Codes: G06F 21/34 involving the use of external additional devices, e.g. dongles or smart cards
• CPC Class Codes: G06F 21/36 by graphic or iconic representation
• CPC Class Codes: G06Q 20/382 insuring higher security of transaction
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists

Abstract

The invention provides an authentication system and method. In particular, the invention provides a method for performing a financial authentication utilizing a token associated with a user, the method comprising the token generating a set of display characters that are viewable by the user, the token generating the display characters using logic; the user transforming a portion of the set of display characters using a transformation process, based on knowledge of the user, so as to form a display character sequence; the user outputting the display character sequence to an authentication entity; and the authentication entity authenticating the display character sequence using the logic and knowledge of the transformation.

Claims

1. A method of authenticating a transaction involving a user authentication device, a merchant, and an authentication entity system, the method comprising:

registering, by the authentication entity system, a sequence of position labels with a user identifier;

receiving, by the authentication entity system, a transaction request from a merchant electronic device;

storing, by the authentication entity system, the transaction request;

generating, by the authentication entity system, a plurality of fields for the transaction request;

assigning, by the authentication entity system, a position label to each field of the plurality of fields;

assigning, by the authentication entity system, a character to each field of the plurality of fields;

generating, by the authentication entity system, a first sequence using the assigned characters;

displaying, by the authentication entity system, the first sequence on the user authentication device;

receiving, by the authentication entity system, from the user authentication device, a second sequence and the user identifier, wherein the second sequence is a subset of the first sequence;

retrieving, by the authentication entity system, the position label for each character in the second sequence;

comparing, by the authentication entity system, the retrieved sequence of position labels to the registered sequence of position labels;

determining, by the authentication entity system, that the retrieved sequence of position labels match the registered sequence of position labels; and

based on the determining, authorizing, by the authentication entity system, the stored transaction request.

2. The method of claim 1, wherein the registered sequence of position labels is set by the user.

3. The method of claim 1, wherein the registered sequence of position labels is based on an amount of a transaction in the transaction request.

4. The method of claim 1, wherein at least one character comprises at least one wildcard.

5. The method of claim 1, wherein the characters are alphanumeric characters.

6. The method of claim 1, wherein the characters are randomly generated.

7. The method of claim 1, wherein the characters are generated periodically.

8. The method of claim 1, wherein the characters are generated for each transaction.

9. The method of claim 1, wherein the display of the first sequence is displayed on the customer electronic device with an indication of each character'"'"'s position identifier.