Method for conducting financial transactions utilizing infrared data communications

• US 20040015451A1
• Filed: 05/16/2003
• Published: 01/22/2004
• Est. Priority Date: 07/10/2002
• Status: Abandoned Application

• Current Assignee: Visa International (Visa, Inc.)
• Original Assignee: Visa International Service Association (Visa, Inc.)
• Inventors: Chen, Ann-Pin, Raj, Thanigaivel Ashwin, Sahota, Jagdeep Singh
• Application Number:
  US10/439,625
• Publication Number:
  US 20040015451A1
• Time in Patent Office: Days
• US Class Current: 705/71
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/3267 In-app payments
• CPC Class Codes: G06Q 20/327 Short range or proximity payments by means of M-devices
• CPC Class Codes: G06Q 20/341 Active cards, i.e. cards including their own processing means, e.g. including an IC or chip
• CPC Class Codes: G06Q 20/3829 involving key management
• CPC Class Codes: G06Q 20/388 using mutual authentication without cards, e.g. challenge-response
• CPC Class Codes: G06Q 20/40975 using encryption therefor
• CPC Class Codes: G07F 7/0886 the card reader being portable for interacting with a POS or ECR in realizing a payment transaction
• CPC Class Codes: G07F 7/1008 Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system
• CPC Class Codes: H04L 63/045 wherein the sending and receiving network entities apply hybrid encryption, i.e. combination of symmetric and asymmetric encryption cryptographic mechanisms or cryptographic arrangements using a plurality of keys or algorithms H04L9/14
• CPC Class Codes: H04L 63/0823 using certificates cryptographic mechanisms or cryptographic arrangements for entity authentication involving certificates H04L9/3263
• CPC Class Codes: H04W 12/02 Protecting privacy or anonymity, e.g. protecting personally identifiable information [PII]
• CPC Class Codes: H04W 12/50 Secure pairing of devices

Abstract

A method and device are described for conducting a transaction between electronic devices in which transaction data is exchanged over an infrared frequency. A first and second electronic device, with a common encryption algorithm deployed on each device, establish an infrared communications link. The second electronic device transmits a transaction request together with an encryption key to the first electronic device. The first electronic device returns response data to the second electronic device which response data is encrypted using the common encryption algorithm and the encryption key. An account to be utilized in the transaction is derived from the response data allowing the transaction to be completed.

Claims

1. A method of conducting a transaction comprising:

placing a mobile first electronic device in infrared data communication with a second electronic device wherein both the first electronic device and the second electronic device have a common encryption algorithm;

communicating a transaction request from said second electronic device to said first electronic device wherein said transaction request includes an encryption key for use with said encryption algorithm;

communicating response data from said first electronic device to said second electronic device wherein said response data is encrypted with the encryption key; and

obtaining payment for the transaction from an account identified from said response data.

2. The method of claim 1 wherein said encryption key is a session key.

3. The method of claim 1 wherein said encryption key is a public key.

4. The method of claim 1 wherein said transaction request includes a digital certificate.

5. The method of claim 4 wherein said digital certificate comprises a public key.

6. The method of claim 1 wherein said encryption algorithm is an asymmetric encryption algorithm.

7. The method of claim 1 wherein said encryption algorithm is a symmetric encryption algorithm.

8. The method of claim 1 wherein said response data comprises a unique account number from which payment is obtained.

9. The method of claim 8 wherein said response data further comprises:

a cryptogram.

10. The method of claim 8 wherein said response data further comprises:

a digital signature; and

a public key certificate.

11. The method of claim 8 wherein said unique account number is encrypted.

12. The method of claim 11 wherein said response data further comprises:

a cryptogram.

13. The method of claim 11 wherein said response data further comprises:

a digital signature; and

a public key certificate.

14. The method of claim 8 wherein said account number is useful for effecting a credit transaction.

15. The method of claim 8 wherein said account number is useful for effecting a debit transaction.

16. The method of claim 8 wherein said account number is useful for effecting an exchange from one or more financial accounts.

17. The method of claim 8 wherein said account number is useful for effecting an exchange from one or more stored value accounts.

18. The method of claim 17 wherein one or more of said stored value accounts is an electronic cash account.

19. The method of claim 1 wherein said response data comprises domestic processing data.

20. The method of claim 19 wherein the domestic processing data comprises an identifier for the provider of the account identified from said response data.

21. The method of claim 19 wherein said domestic processing data comprises market research data.

22. The method of claim 1 wherein said response data comprises issuer program data.

23. The method of claim 22 wherein said issuer program data comprises data for customer loyalty programs.

24. The method of claim 22 wherein said issuer program data comprises an account number for a co-branded service.

25. The method of claim 22 wherein said issuer program data comprises a key to access a coupon.

26. The method of claim 22 wherein said issuer program data comprises market research data.

27. The method of claim 1 wherein said transaction is a fixed price transaction.

28. The method of claim 1 wherein said infrared communication occurs without establishing a reliable session layer connection between the first electronic device and the second electronic device.

29. The method of claim 1 further comprising:

authenticating the user of the first electronic device prior to the step of obtaining payment for the transaction.

30. The method of claim 29 wherein the authentication occurs offline.

31. The method of claim 29 wherein the authentication method is selected from a group consisting of entry of a personal identification number, biometrics, and entry of a password.

32. The method of claim 29 wherein the authentication occurs online.

33. The method of claim 29 wherein the authentication step is repeated after a pre-selected time interval.

34. A method of conducting a transaction comprising:

placing a mobile first electronic device in infrared data communication with a second electronic device wherein the first electronic device and the second electronic device has at least one common transaction service deployed thereon;

communicating from the first electronic device to the second electronic device identification of an encryption algorithm supported by the first and second electronic devices;

communicating key data from the first electronic device to the second electronic device wherein said key data can be used to encrypt and decrypt data;

communicating payment information from the first electronic device to the second electronic device; and

obtaining payment for a transaction from an account identified from said payment information.

35. The method of claim 34 further comprising:

communicating transaction information from the second electronic device to the first electronic device.

36. The method of claim 35 wherein the transaction information comprises:

the value of the transaction; and

the currency in which the transaction is conducted.

37. The method of claim 35 wherein the transaction information comprises:

a unique identifier for one or more of the parties to the transaction.

38. The method of claim 35 wherein the transaction information comprises:

the name of one or more of the parties to the transaction.

39. The method of claim 35 wherein the transaction information comprises:

the number of items being purchased.

40. The method of claim 35 wherein the transaction information comprises the date of the transaction.

41. The method of claim 35 wherein the transaction information comprises the time of the transaction.

42. The method of claim 34 wherein the encryption algorithm is an asymmetric encryption algorithm.

43. The method of claim 34 wherein the encryption algorithm is a symmetric encryption algorithm.

44. The method of claim 34 wherein the payment information comprises:

a unique account number from which payment may be obtained.

45. The method of claim 44 wherein the payment information further comprises:

a cryptogram.

46. The method of claim 44 wherein the payment information further comprises:

a digital signature; and

a public key certificate.

47. The method of claim 44 wherein said unique account number is encrypted.

48. The method of claim 47 wherein the payment information further comprises:

a cryptogram.

49. The method of claim 47 wherein the payment information further comprises:

a digital signature; and

a public key certificate.

50. The method of claim 44 wherein said account number is useful for effecting a credit transaction.

51. The method of claim 44 wherein said account number is useful for effecting a debit transaction.

52. The method of claim 44 wherein said account number is useful for effecting an exchange from one or more financial accounts.

53. The method of claim 44 wherein said account number is useful for effecting an exchange from one or more stored value accounts.

54. The method of claim 53 wherein one or more of said stored value accounts is an electric cash account.

55. The method of claim 34 wherein said payment information comprises domestic processing data.

56. The method of claim 55 wherein the domestic processing data comprises on identifier for the provider of the account identified from said payment information.

57. The method of claim 55 wherein the domestic processing data comprises market research data.

58. The method of claim 34 wherein the payment information comprises issuer program data.

59. The method of claim 58 wherein the issuer program data comprises data for customer loyalty programs.

60. The method of claim 58 wherein the issuer program data comprises an account number for a co-branded service.

61. The method of claim 58 wherein said issuer program data comprises a key to access a coupon.

62. The method of claim 58 wherein said issuer program data comprises market research data.

63. The method of claim 34 further comprising:

communicating a transaction summary from said second electronic device to said first electronic device; and

storing said transaction summary in memory located on said first electronic device.

64. The method of claim 63 wherein the transaction summary comprises the account number from which payment was obtained.

65. The method of claim 63 wherein the transaction summary comprises an authorization code for the transaction.

66. The method of claim 63 further comprising:

compiling one or more of said transaction summaries to generate a summary of all transactions effected by said first electronic device over a selected time period.

67. The method of claim 34 further comprising:

authenticating the user of the first electronic device prior to the step of obtaining payment for the transaction.

68. The method of claim 67 wherein the authentication occurs offline.

69. The method of claim 67 wherein the authentication occurs online.

70. The method of claim 67 wherein the authentication step is repeated after a pre-selected time interval.

71. The method of claim 67 wherein the authentication is selected from a group consisting of entry of a personal identification number, biometrics, and entry of a password.

72. A device for use in effecting a transaction comprising electronically accessible media wherein said media comprises a first memory location, a second memory location and a third memory location such that:

said first memory location comprises account identification data;

said second memory location comprises domestic processing data; and

said third memory location comprises issuer program data.

73. The device of claim 72 wherein said account identification data comprises a unique account number from which payment for a transaction may be obtained.

74. The device of claim 72 wherein said account identification data comprises an identifier for the user of the device.

75. The device of claim 72 wherein said domestic processing data comprises an identifier for the issuer of a transaction service deployed on the device.

76. The device of claim 72 wherein said domestic processing data comprises market research data.

77. The device of claim 72 wherein said issuer program data comprises key data for accessing coupons.

78. The device of claim 72 wherein said issuer program data comprises data for customer loyalty programs.

80. The device of claim 72 wherein said issuer program data comprises market research data.

81. The device of claim 72 wherein said media comprises random access memory.

82. The device of claim 72 wherein said media comprises electrically erasable and programmable read only memory.

79. The device of client 72 wherein said issuer program data comprises an identifier for the provider of a co-brand to a transaction service deployed on the device.